Tuesday, November 11, 2014

Photos! Controversial Edgewater retail development taking shape on Broadway

There goes the neighborhood.  Photo by Bob DePalma and Eric Rojas, Brokers, Kale Realty
The long vacant and dilapidated parcel of land along the 5200 block of North Broadway in Edgewater is well into development.  There is some good background and a "before" photo at StreetsBlog Chicago.

The land formerly owned by Piser Weinstein Funeral Home (5206 North Broadway, Chicago IL 60640) had exchanged hands a few times.  According to my MLS records at one point the entire parcel 462'x125' was listed for over $8,00,000 in 2008 and by 2012 dropped to just over $5,00,000 asking.  The property was foreclosed.  A sale record for 2013 states the land sold at $1,500,000.

While some nearby neighbors did not want to see a large multistory development other stakeholders (including the Alderman) reportedly did not want to see a one-story type strip mall either. 

A recent story confirms a PetSmart and Chipotle will move in to the retail space.

One positive note is the new retail strip Near the West Foster and North Broadway intersection may provide a few extra restaurants and services to bridge the gap between the lake and the dreamy Andersonville Clark Street strip four blocks to the west.  In any event this is another example of the major commercial, mixed use and large parcel development BOOM in the North Side neighborhoods from Lincoln Park to Edgewater.

Live on the Edge! (shop at PetSmart)

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