Friday, November 13, 2020

Another 40 unit building proposed in Lincoln Square


The new owners of 5214-5224 North Lincoln Avenue have a zoning change application in and a proposal for a 40 unit residential building with retail on the first floor. All photos Eric Rojas, Broker, Kale Realty

Development proposals in the northwest portion of Lincoln Square is on 🔥🔥 A forty unit residential building has been proposed at the site of a now vacant strip mall. 5214-5224 North Lincoln Avenue once housed a Chase Bank branch, a Chinese restauant and a liquor store (basically... everything you need!).  I'm cool with this development... even if it may be boring. 

The strip mall was picked up in a foreclosure sale in 2019 and flipped this year for $1,250,000.

Looking at the strip mall to the northwest. 

The Diplomat Motel is adajacent to the property and great for your out of town guests! If NO VACANCY the Summit Motel is a half block up. 

Tony's Fresh Market is across directly across the street. I have a complicated relationship with Tony's since they took over my beloved Dominick's space. 

A relitively successful four story mixed use development sits on the busy northeast corner of West Foster and North Lincoln Ave across the street. This gives you an idea of what the new development will look like.

A 40 unit new construction development has already been approved for the southeast corner of West Foster and North Lincoln Ave just a half block away. Home of Jimmy's Pizza (future TBD). So, 80 more residential units will be added to the corner. The Dunkn' Donuts on the northwest corner has to love this! 24 more units have been approved at Western and Carmen nearby as well.

This sort of  "trafficky" strip of traditional one story retail and services (motels, Dunkin', Mr Submarine, Walgreens, grocery store, old mixed use apartments) is doing it's best to consolidate into larger new construction multi-unit mixed use development. The draw of Lincoln Square's center six blocks to the southeast and Andersonville directly east has made residential development viable. 

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