Friday, November 06, 2015

Big changes on horizon for West Lawrence Avenue in Lincoln Square, three more lots under contract

There are several significant developments on just two blocks of West Lawrence Avenue in Lincoln Square. About 18 total city lots are in play for the two block stretch from 2100 to 2300 West Lawrence (all on the north side of West Lawrence)! All photos below were taken by me.  I have no financial interest in any of the properties or deals discussed.

Two buildings and a vacant lot are now under contract (above, partially blocked by the tree) adjacent to the proposed Farmer's Market development on West Lawrence Avenue. Photos Eric Rojas, Broker, Kale Realty
Three contiguous properties pictured above and listed on the MLS ( just went under contract this week at 2242, 2244 and 2246 West LawrenceThe total asking price for the three properties is $1,300,000.  The properties are adjacent to the 2232 West Lawrence Farmer's Garden Market lot that is to be developed into new condos (with or without ground floor retail).

A community meeting was just held in the past couple weeks to view proposed condo development plans for the vacated Farmer's Garden Market at 2232 W Lawrence Ave, Chicago, IL 60625.  The property was listed for sale at $1.4 million but a contract purchase price is not public.  The three recently contracted lots are adjacent to the left of the Farmer's Garden Market.

The "Roots Pizza building" owner is re- developing the building at Lawrence and Leavitt. They also own the (4) vacant city lots adjacent to the left in the photo.  That is to become rental apartments (old story), but that could change in the future.

A proposed rental building for the lot at 2208 W Lawrence adjacent to the "Roots Building" had support to move ahead back in 2013. I have it from sources other developer priorities and some mutual and positive political agreements have delayed the start of the development.

Neighbors viewed a brochure (which I've seen) and confirmed by a broker and owner associated with the property that the Surpless, Dunn and Company building and parking lot at 2150 West Lawrence is for sale. A public listing is supposed to hit shortly (if it's not contracted already).

The parking lot for the Surpless and Dunn building 2150 West Lawrence.  The property spans an estimated 6 city lots in a prime location.

Lawrence is poised to see more residential construction like the successful 4804 N Hamilton building (at Lawrence).  The six unit building with ground floor retail had a recent condo re-sale this summer for $540,000. There really has been no significant residential development west of Damen Avenue since this was built in 2007.  Photo Eric Rojas, Broker, Kale Realty.
 #ANewLawrence has been the mantra of 47th Ward Alderman Ameya Pawar when it comes to the north side of his ward boundaries.  West Lawrence Avenue splits down the middle of two highly desirable residential neighborhoods. On the south you hug the North Lincoln Avenue corridor of businesses and border Welles Park.  North of Lawrence you have a charming residential neighborhood with several schools circling Winnemac Park. The area is serviced by CTA Brown line stops at Damen and Western.

Lawrence Avenue is about to explode in development providing amenities and residential housing to meet the demand for these communities. Wholesale changes started with the Mariano's Grocery / Ravenswood Terrace apartments development  and West Lawrence road diet.  The new Ravenswood Metra Station was completed early this year. Band of Bohemia brew pub is set to open in a couple weeks.   Many high-end condos with new retail line North Damen at West Lawrence.

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