A permit was approved early last week for a new three-story residential building to be located at 5201 S Wabash Avenue in the Washington Park neighborhood. The owner is listed under the name Kalos Group Development LLC, with plans for three total units and a three-car concrete parking pad. The building will be replacing a vacant lot.
Charles E Schwartz is listed as the architect of record. No drawings or renderings have yet been revealed, though the filing description has indicated a masonry exterior with an open rear steel staircase.
The closest bus service available is for Route 29 and can be found at State & 53rd Street via a four-minute walk southwest. The CTA L Green Line at the 51st Street station is just a nine-minute walk northeast.
There are retail and dining options in the vicinity, located within a five-minute walk east along E 51st Street. Also nearby is the lush green space Washington Park Arboretum.
Metropole Holdings LLC will serve as the general contractor for the $350,000 construction. Full timeline details and an anticipated completion date have not yet been revealed.
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I am curious how this development is being constructed for only $350,000.
Hi Calumet, apologies for the very late response! We get that information from the DoB permit database under the reported construction cost column. While that does seem low, we have seen similar projects with that construction price tag