There's really not much left of the old LaSalle Bank at Belmont and Ashland as crews have now razed the structure. Demolition of the old bank building and the adjacent Art Deco Medic Building began at the very end of September and beginning of October, and now the only thing still standing is the entrance to the old bank's vault. The property will eventually make way for a new retail and residential development, however details are still a big foggy. Before the recession's real estate deep freeze took hold, one developer planned to build a large retail and condo development on the property. However, the then-called Lakeview Collection project never took off and Target eventually acquired the buildings. However, after sitting on the property for just a little over a year, Target put it back on the market this summer.
As of August, the most recent plan calls for a new development with roughly 60,000 square feet of ground level retail space with 80 to 160 residences stacked on top. It's not confirmed, but it's highly likely that the residences will be apartments. John Novak of Novak Construction Co. is developing the new project, and Novak is certainly no stranger to some good old fashioned drama. Earlier this year, Novak demolished a small 128 year old workers cottage in Lincoln Park without proper permits. Novak was later slapped with a minuscule penalty of $7,500 for illegally demolishing the house. Previously, Novak was sued by the city for having a large obnoxious lawn statute on his property. The demolishing of the old Medic Building on the property was bemoaned by preservationists, but according to Alderman Tom Tunney, much of the building's art deco ornamentation has been carefully removed and stored, and will be used for the new project.
·Demolition of Old LaSalle Bank at Belmont & Ashland Imminent [Curbed Chicago]
·New Retail, Residences Coming to Belmont, Ashland & Lincoln [Curbed Chicago]
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