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New Apartment Development Will Replace Parking Lot on North Avenue

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The 69-unit project one of several headed to the Old Town neighborhood

Developer Sedgwick Properties has officially unveiled its plans to bring a seven-story apartment building to the parking lot at the southwest corner of North and North Park in Chicago’s rapidly-transforming Old Town neighborhood. Known by its address of 301 W North Avenue, the project will contain 69 one-, two-, and three-bedroom rental units ranging from 600 to 1,300 square feet as well as ground floor retail and a rooftop amenity space. While the number of parking stalls has not been revealed, vehicle storage will take place in an underground garage, according to a building permit issued for the address last month. The design of the brick structure is being handled in-house.

No stranger to the north side neighborhood, Sedgwick Properties is behind the six-story Old Town Place residential development located down the street at 437 W North Avenue as well as a new seven-story, 60-unit project planned for 1325 N Wells — a parcel the firm acquired in 2014 for $4.5 million. While the development on Wells is on track for a spring 2017 delivery, 301 W North is expected to open in the fall of that year.