Following its recent acquisition of the historic brick and terra cotta building at 1132-40 W Wilson Ave., on the corner of Wilson and Clifton, Cedar Street Cos. recently unveiled plans to gut and rehab the residential portion of the building to create artist-oriented residences, Uptown Update reported over the weekend. The three-story, mixed use property will retain its current retail tenants while the existing 54 residential units will be reduced to 40 micro-units, with currently empty spaces on the basement and first floors geared towards shared artist space.
The concept for this new artist housing in Uptown, with an emphasis on affordability, came about as a result of collaborative discussions between Cedar Street and the School of the Art Institute of Chicago, where young and graduating artists often face challenges finding affordable, adaptable spaces where they can flex their creativity. Cedar Street has kept very busy lately, working on major adaptive reuse projects on the Near North and in Uptown to relaunch the new micro apartment developments under its FLATS flag. Permits for the rehab of the Wilson Avenue property were issued on April 30th and construction is expected to start soon.