While Chicago is in the middle of a full blown rental construction bonanza, Lincoln Park, one of the city’s most desirable areas, has lagged somewhat behind the curve. Things are finally ready to change for the tony northside neighborhood as the redevelopment of the dated mixed-use Lincoln Center building at 2518-2549 N Lincoln Avenue appears poised to move forward, joining The Lincoln Common project at the old Children's Memorial Hospital Site just a few block south. Since receiving full City Council approval back in July, Baker Development Corporation’s Lincoln Center project has been relatively quiet as the developer worked behind the scenes to buy-out the old building’s existing contracts. With that process complete, the project — now dubbed "ELEVATE Lincoln Park" — can proceed to the demolition phase in April, according to DNAinfo.
Elevate is the first new development in Lincoln Park to take advantage of the latest changes to Chicago's Transit Oriented Development (TOD) ordinance and will see 138 parking spaces serve 191 high-end apartment units. The horseshoe-shaped SCB-designed development includes a raised amenity courtyard fronting Lincoln as well as a rooftop fitness center and pool deck featuring skyline views of downtown. Rents will range from $1800 for a studio up to $4000 for a two-bedroom unit. According to Elevate’s website, developers are already seeking retail tenants for the project’s 16,300 square feet of ground level retail space. Residential occupancy is scheduled for Summer of 2017. With work on the Baker project coinciding with The Lincoln Common project from McCaffery/Hines and DePaul University's new music school, things are about to get very interesting along Lincoln Avenue — especially for automobile traffic.
·Elevate Lincoln Park [website]
·Big Changes Ahead For Lincoln Ave. As 3 Big Construction Projects Coincide [DNAinfo]
·Lincoln Avenue Apartment Project Returns With TOD Element [Curbed Chicago]
·Previous Lincoln Park coverage [Curbed Chicago]