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Targeting Lakeview

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According to Ald. Tom Tunney's office, Target has purchased the vacant 2-story structure at Ashland, Belmont and Lincoln. The retail giant plans on filling it with its sparkling universe of consumer goods. No big matter, until you chronicle the development history of this prime site: six years ago, Centrum Properties planned 130 loft condos with 90,000-square-feet of retail in an urban-friendly 6-story building. Just before the bank reclaimed the property from Centrum in November 2011, the residential component was dropped. Confirmed rumors of a Target purchase come with the revelation that they'll be working within existing zoning. So no residences for the foreseeable future. [Crain's, YoChicago, rendering: the defunct Lakeview Collection]