Monday, January 21, 2019

Uptown repair shop property sells for $2,350,000, 39 new apartments coming

Looking south from Lawrence Ave. A 39 unit Apartment building with retail space and 35 parking spots will be built at 4747 N Ashland in the Uptown/ Ravenswood neighborhoods. The location is near the Ravenswood Metra and easy to Sheridan Red Line. The former lot and business property address was 4757 N Ashland, Chicago IL 60640 and sold for $2,350,000.
I was recently asked about the land sale for a new construction project in Uptown. The former car repair shop at the corner of Lawrence and Ashland in Uptown has been emptied out and new construction draws near.  Property records show a Trustee Deed (sale price) of $2,350,000 recorded in December 2018 for the 115’ x 156’ = 17,940 sq/ft lot. The zoning change was approved in June of 2018 according to the 47th Ward website.  Check out the drawings HEREA building construction permit was issued in December estimated over $5 million.

Lawrence and Ashland will soon look much different.
The property is close to the Ravenswood Metra, Crafty Beaver (across the street!), Lawrence Red Line, Mariano's. Jewel, Andersonville fun, Chase Park (pool next door!) and any number of bars, restaurants and shops. Details from the summary sheet of the residential apartment development include:

  • 39 rental units  
  • 3 one-BDRM // all are 830 sf  
  • 36 two-BDRM units // 12 are 1,200 sf and 24 are 900 sf  
  • Rents estimated $1,800-$2,500  
  • 4 ARO on-site units
If you need a condo or apartment please contact me.  If you need a great car repair shop rather than this infamous shop go to my guys at Speedline at 5250 North Damen.

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