|1800 West Berenice gets zoning approval in the 4th Ward. Luxury house builder Landrosh Development has a few higher-end multi-unit developments in the the works in Lincoln Square and North Center. Image from Alderman Matt Martin 47th Ward site www.aldermanmartin.com/development|
A North Center 44 unit development received zoning approval in the 47th Ward. Landrosh Development paid $1,925,000 for the 12,825 sq/ft property according to the Cook County Recorder of Deeds.
This one caught my eye for a couple reasons: First, it's another example of building large mixed use multi-unit on original one and two story commercial buildings. Chicago developers (with the blessing of city planners and council members) have been aggressively building up on underused commercial lots near transit over the past five years. The boost is partly due to the 2013 Transit Orientated Development ordinance and expansions. This sits less than three blocks from the Irving Park Brown Line stop.
More interestingly the local developer - better known for getting some of the highest sale prices for speculation homes in Lincoln Square - has a few condo developments in the works. I mentioned this 14 unit development in Lincoln Square and the company is trying to get THIS North Center development approved... with some million dollar asking prices.
There seems to be no shortage of demand in Lincoln Square and North Center for higher-end condos and single family homes.