Tuesday, March 31, 2020

Chase Bank, Sears redevelopments moving ahead along Lawrence Avenue, Lincoln Square

The large Chase branch at 1825 West Lawrence is closed for re-development.  The 166 unit residential development was approved back in 2017. The 47th Wrad Aldeman Matt Martin suggested construction will start in the fall. All photos Eric Rojas, Broker, Kale Realty
West Lawrence Avenue in Lincoln Square has seen a resurgence of development since the "road diet" changes reduced it to a manageable two lanes from a frenzied four lanes. Over the past five years many residential units have been completed along West Lawrence between Ashland and Western and many more are in the works. Newer businesses over the past five years like Roots, The Sixth, Iris and Steven Poldosky Family Center, Borellis Pizza, Marianos, El Dorado #2 and L.A. Fitness have prospered.

As a nearby resident and home owner I love the Lawrence Avenue road diet and the subsequent development. Density has made Lawrence Ave more lively and infrastructure improvements more pedestrian friendly. Prior to the corona-virus shutdown I attended a Greater Ravneswood Chamber of Commerce panel with 47th Ward Alderman Matt Martin.  Among many things the Alderman addressed a few of the developments along Lawrence Avenue.

The Chase Bank branch at 1825 West Lawrence is now empty. A smaller branch was built adjacent to the east.

Chase Bank redevelopment:  Alderman Martin suggested the Chase Bank property development at 1825 W Lawrence (pictured above) is schedule to break ground in earnest this fall. That will bring 166 new residential housing units to the strip nearly adjacent to the Ravenswood Metra station.

The old Sears building at 1900 West Lawrence Avenue. Photo taken during this March.
Sears/ DeVry development: Construction at the old Sears building had stopped some time after the New Year.  The developer basically "ran out of money". However new financing was attained and construction continued in March. The building will house DeVry University and add 59 new residential apartments.

The play-lot at McPherson Elementary in Lincoln Square. A new turf field addition is planned for the school.
McPherson Elementary: McPherson is a neighborhood Chicago Public School serving Lincoln Square. The school is to build a new turf field as part of $1.4 million in state funds coming it way. McPherson is working hard to achieve 1+ status among several nearby top ranked schools. A 1+ rated school district is a boon to local real estate prices.

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