clock menu more-arrow no yes

Filed under:

Old Town Heats Up with Three More Projects on the Way

New, 24 comments

The quaint north side neighborhood is adding some density

Chicago's Old Town is on the cusp of a major construction boom with no less than three new projects stepping into light. First up is developer Sedgwick Properties who has landed a building permit to construct a new seven-story building 307-313 W North Avenue. The new structure will house 69 residential units, ground floor retail, and an underground parking component. Sedgwick paid $8.8 million for the former parking lot last year. The Chicago-based developer is also behind 1325 N Wells, a seven-story, 60-unit residential development that officially broke cover last month.

Just one short block east of Sedgwick’s North Avenue site, JAB Real Estate plans a similarly sized 60-unit apartment building. According to Crain’s, the developer acquired the connected buildings at 227 and 233 W North Avenue for $5.8 million and plans to begin demolition this summer. The proposed six-story structure is designed by Space Architects + Planners and will be clad with limestone and brick. The mixed-use development will also include 2,000 square feet of retail space and 20 parking stalls.

Meanwhile, New York-based Jenel Management scooped up the former Bistro Margot property at 1437 N Wells and two adjacent low-rise buildings, including a pet store that was shuttered under Chicago’s anti-puppy mill ordinance. While no specifics such as building height or unit count have been disclosed, it was confirmed that Jenel plans to replace the three existing structures with a multi-story, multi-family residential development that would also include ground floor retail along Wells.

Old Town is heating up as the first phase of the massive Atrium Village redevelopment moves forward and a boutique hotel slated for the site of the O’Briens restaurant at 1528 N Wells seeks city approval.