A new four-story, 33-unit condo development in Chicago’s Noble Square neighborhood is officially on its way after scoring a construction permit late last week. Designed by architect John Hanna, the transit-oriented development (TOD) is dubbed the Ace on Ashland in reference to the Ace Hardware store that previously occupied the site. The property at 1011-1013 N. Ashland Avenue was acquired by Gary Mikhaylov of GNP Development in late 2014 for $1.75 million.
The Ace will set aside just 25 parking places for its 33 units. While lower parking is typical of the rental TOD projects that have cropped up in the area near the CTA Blue Line along Milwaukee Avenue, the choice is a bit more unusual when it comes to condominiums. The development team previously proposed an even lower parking ratio of 17 spots back in 2015 but has since amended their plans.
Single bedroom units in the Ace start at 720 square feet in size with three-bedroom units growing to 1,280 square feet. Two affordable-rate dwellings will be provided on-site. Market-rate pricing in the development has yet to be announced.
In January, zoning attorney Sara K. Barnes told neighbors belonging to the East Village Association that the upcoming structure’s ground floor retail could include “underrepresented and needed” residential services. Potential tenants include a cafe, gym, small grocery store, or even another hardware store.
The Ace on Ashland is situated just down the street from 1056 N. Ashland—a 1920s era Art Deco-style church which is having its unique brick facade preserved and incorporated into a planned 34-unit apartment building.