It looks like the LLC for MK The Restaurant is moving to develop a neighboring surface lot at the corner of Franklin and Chestnut with multi-unit housing. A tipster forwarded a copy of the notice of proposed Special Use that are distributed by law to all property owners within 250 feet of the property in question. Two applications filed in mid-February are seeking zoning changes to allow for a 23-unit building with 21 ground-level garage spaces. Reproduced below is the bulk of the notice, issued by the owner's attorney:
...Please be informed that on or about February 14, 2013, l, the undersigned, on behalf of the Applicant/owner, MK Investment Partners, LLC, will file two Applications with the Zoning Board of Appeals of the City of Chicago for a Variation and a Special Use, respectively, under the terms of the Chicago Zoning Ordinance for the property located at 858 North Frankiin Street, Chicago, Il. The Applicant seeks a Variation to reduce the required 30' rear yard setback to zero, in order to aIIow the new construction of a twenty-three (23) dwelling-unit all-residential building in a Cl-5 Zoning District. This seems a sensible use for a small surface lot in an area that craves infill like few others. Though minor, the parking component is kind of frivolous considering the one block distance to the Chicago Brown Line. If anyone digs up more details, do share with Curbed!