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Four-Story Condo Building Targets Barren Corner of Madison & Ashland

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Four-story condo infill isn't usually big news, but when a proposal has the potential to be a lynchpin for neighborhood investment (and when it amounts to the only structure at a flattened intersection) it's a somewhat bigger deal. A tipster wanted Curbed to see the marketing materials for an unbuilt retail space at an unbuilt four-story condo building at the northwest corner of Madison & Ashland. According to commercial real estate company Sperry Van Ness, "the property is scheduled for availability in Summer 2014." This could be a false start—it's been known to happen in real estate—but the site is a logical place for new upscale construction with an affiliate of Bulls owner Jerry Reinsdorf planning a 52-unit rental development on the lot immediately to the north and other residential investment creeping west. Anything but abandoned Taco Bells and parking lots... please!
·1600 W Madison St. (pdf) [Sperry Van Ness]
·Reinsdorf-Led Firm Pitches Market-Rate Apts by Union Park [Curbed Chicago]