Lincoln Square former convent may be converted to apartments

 

4927 North Claremont is a former convent on the St Matthias Parish campus. The building was most recently used for early education programs, Scout meetings and various school and church activities. All photos Eric Rojas, Broker, Kale Realty

A plan has been submitted to convert a former Lincoln Square convent to 12 or more apartments.  The 4927 N Claremont building is for sale by the Chicago Archdiocese. The current purchase contract is contingent on the buyer/ developer receiving zoning change to preserve the building and convert apartments. The purchaser stated in the community meeting if they do not receive the zoning change they will not purchase the building. Currently the parcel (and block) is zoned for residential single family or two-flat development. The structure may also be bought and used for a religious organization. 

 You can view the Notice of Intent and the recorded community meeting on the project at the links. The public community review has been completed and the 40th Ward Alderman office is in general support of the proposal. The project will not alter the footprint of the building and will provide for the required number of affordable units (at least two). Next step for the zoning change applicant would be committee approval in the city council and then full council adoption read into the record. 

The Chicago Dioceses just sold a parking lot on the same block that is now being developed into family homes "as of right" per the current zoning.

Looking north down Claremont

The convent building is adjacent to the St. Matthias church building (also closed).

The property is not listed for sale on the Chicago Diocese website while other properties for sale are listed with asking prices. Often organizations will hire a Brokerage to market the property "more privately" to local or large investor/ developers. I can make an educated guess on the asking price range of the property... but I'm not going to do that here 😀

We have helped our clients make zoning application decisions based on the market value of their property and the overall marketing plan. Please reach out to us if you have questions concerning the value of your property or if you wish to purchase or sell property in the Chicago area.