Demolition permits have been issued for a three-story masonry building at 16 W Erie Street, located in Near North Side. The multi-unit residential structure is currently owned by KKDD LLC, who has not yet revealed plans for its replacement.
The site is zoned as DX-5, which would allow for a very high density mixed-use development. DX-5 has no set height limit, apart from a height review and a maximum floor area ratio of 5, which means any new building’s square footage can be five times that of the lot itself. Given this figure and the smaller footprint of the lot, any replacing structure likely will not exceed five floors unless an amendment is passed.
CTA bus access includes the northbound 22 stop less than a two-minute walk northwest to Dearborn & Huron, while its parallel southbound route can be found one block west at Clark & Huron. Additional bus access within a five-minute walking radius consists of Route 66 to the north and Routes 36, 65, and 125 just one block south.
The nearest CTA L transit for the Red Line lies at Grand station and is located three blocks south. The additional Brown and Purple Lines can be found at Chicago station, a nine-minute walk northwest.
Notable points of interest within walking distance include Michigan Avenue/Magnificent Mile located a six-minute walk east and the roughly three-acre Washington Square Park via a nine-minute walk to the northwest.
Atlas Industries, Inc. is serving as the wrecking contractor. No timeline information has yet been revealed for either the demolition or any future site development.