Wednesday, March 25, 2015

PHOTOS! Lakeview's most awesome play lot, Margaret Donahue Park, nearing prime time

I snapped a few photos of Lakeview's new Margaret Donahue Park at 1230 W School Street, Chicago IL 60657.  Check out the background story by DNAinfo.

Looking northeast (all photos Eric Rojas, Broker, Kale Realty except where noted).
The neighbors must be ecstatic. Residential single family homes, condos and townhouses flank the large park site that once was home to an industrial building.  Personally, I've felt Lakeview, for all it's benefits and lakefront parks, has lacked green space and open play space in it's interior where more single family homes are situated. This is a major victory and will be a very popular meeting place for the community.
The former Swartz Products building originally sat vacant for many years (Photo from Greenview Realty, Inc). There was a listing on the MLS as late as 2010 offering the 4.5 city lot property for $2,600,000. According to public records Openlands acquired two addresses at 1234-1236 W School for a total of $1,150,000 in 2011.  The Chicago Park District acquired the property in 2013.  I don't know of any other land purchases but $1,150,000 would be easily less than half of market value today.

Looking northwest.
Image of the completed park.
The groundbreaking was August 8th, 2014
A new construction single family home at 1238 W School, Chicago IL 60657 adjacent to the park is under contract at $2,500,000 according to  The original property sold in 2014 for $650,000A town house development built in the early 1990s at 1220 W School sits on the east fence of the park. One town home in the development is currently under contract asking $534,900. 
No end to luxury new construction single family homes around Lakeview.
An industrial building sits across from the park. 

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