Thursday, September 22, 2016

BOOM! Two more NEW developments coming to Lawrence Avenue in Lincoln Square

The large Chase Bank property at 1825 West Lawrence Avenue, Chicago IL 60640 in Lincoln Square. All photos Eric Rojas, Broker, Kale Realty
There is no doubt we are in the middle of boom times in Lincoln Square. Patty Wetli of DNAinfo breaks the story  today on a large development proposed for the Lawrence Avenue Chase Bank property.  The development calls for a smaller Chase branch, 114 small apartments, retail space and 152 parking spaces (garage and surface parking). Many knew this parcel re-development was long coming but the reality is now upon us.  

47th Ward development cases HERE

Kinda sorta dream location for Lincoln Square/ Ravenswood peeps across from LA Fitness, Mariano's and the Ravenswood Metra station (shown below). Creative people, business people, foodies and techies have a lot of opportunity up and down North Ravenswood Avenue adjacent to the Chase property.

The closed Sears store just diagonal  of the Chase property will be redeveloped to residential units and retail as well.
McPherson Elementary School is across the street from the Chase property.
It will be nice to develop the two large surface parking lots that border both North Wolcott and West Lawrence on the Chase property.

The apartment development will be adjacent to a nice row of residential homes on North Wolcott.
Wintrust Bank parking lot development

The northeast corner of West Lawrence Avenue and North Claremont is being re-developed into residential units. 
A nine unit mixed use residential and retail building is being built on a portion of the Ravenswood Wintrust bank parking lot. The addresses are listed as 2322 West Lawrence, Chicago IL 60625 and 4805 North Claremont, Chicago IL 60625.
  Plans for the building can be viewed HERE 

Further detail from the 47th Ward Alderman's office: "The developer, Mavrek Development, started demolition of the parking lot this week and excavation should occur next week (only digging down 4’) with concrete and masonry to follow. They are hoping to have the entire structure under roof by Christmas and deliver the units in the summer of 2017."

The strip mall retail across from the new Lawrence and Claremont development.
Located at the doorstep of the popular Lincoln Square retail, restaurants, Giddings Plaza, the CTA Brown Line and many fests these residential units will be in high demand.
This third wave of new mixed use residential development adding many apartments will join the large retail/ residential development of LA Fitness/ Mariano's/ Ravenswood Terrace  of 2014 and the more recently announced bevy of units following the Roots/ The Sixth arrivals.  Check out my older post on development along West Lawrence Avenue from last November.  Lots of changes in just one year's time!

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