Demolition permits have been issued for a three-story residential building located at Palmer Square‘s 2033 N Albany Avenue. The structure is set back from the street, and owned by MK Builders & Construction. While the owner’s plans have not yet been published, the property is zoned under RS-3, which allows for single family residences and two-flats. RS-3 also permits a floor area ratio of 0.9, whereby any new building may have up to 90 percent of the square footage of the containing lot. As of now, it is unknown if the owner will seek a zoning change for allow for more density.
The property is located a two-minute walk north of the nearest bus transit, which consists of east and westbound stops for Route 73. Meanwhile, those looking to board CTA L trains will find the Blue Line at California station via a 13-minute walk northeast.
The parcel also lies near several points of interest, including commercial corridors along W Armitage Avenue just to the south, and N Milwaukee Avenue further to the northeast. Green space is also accessible via Palmer Square Park via a four-minute walk north. The elevated pathway known as the 606 also has an entry point at de Burgos Park, located a seven-minute walk south.
All Concrete Chicago Inc. is the general contractor for the existing frame and masonry structure. A full timeline for any replacement is not currently known.