A trio of buildings on Milwaukee Avenue in the heart of Logan Square which have been under the control of a family for the last three decades may finally change hands. According to Crain’s, the owners of the buildings on the 2700 block of North Milwaukee Avenue could fetch over $30 million. The property 1.6 acre not only includes multiple buildings with frontage on Milwaukee Avenue, but also a large surface parking lot which could one day become the site of a new residential development should any potential buyer choose to seek a zoning change. According to the report from Crain’s, the three-story apartment building at 2657 N. Spaulding Avenue would likely be demolished to make room for a new residential tower at the site.
While the Logan Square area has been booming with new construction, much of it has not come without a fight. Local groups—specifically preservationists and affordable housing advocates—have pushed back against developers who have proposed dense rental projects for the area in the last few years. There’s no doubt that any new tower proposal for the location—one that is just steps away from the Illinois Centennial Monument—would likely receive a similar resistance that other projects have faced.