The Chicago City Council has approved the rezoning for a residential development at 3431 N Ashland Avenue in Lake View. The project which YIMBY recently covered will be replacing the existing Loyola Press building as part of a larger project filling up the block just north of the CTA Brown Line. Developer 3443 N Ashland LLC partnered with Studio Dwell Architects on the new multi-part development which began with the nearly complete 3421 N Ashland Avenue directly south.
The existing masonry-clad Loyola Press building has occupied the current site for over 97 years but will be replaced in part by the approved five-story, 58-foot-tall structure that will span 110 feet of the site’s 470-foot-long length. Once completed, the building will deliver 42 residential units split into 20 one-bedroom and 22 two-bedroom layouts occupying all floors, of which 20 percent will need to be affordable, with ground-floor units offering private outdoor patios facing the main street and rear-parking lot.
On the ground floor future residents will have access to a community room with a large private outdoor deck, residential lobby, and a bike room offering 51 parking spaces. In the rear of the building there will be 12 vehicle parking spaces accessed from the alley, with three electrical vehicle charging stations. The top four floors will hold the remaining residential units, some of which will have private balconies, with some of the one-bedroom layouts not having direct window access.
The approval means the site will be rezoned from C1-2 Neighborhood Commercial District to B2-3 Neighborhood Mixed-Use District, which will allow the project to move forward and get closer to a groundbreaking. The approval also converts the project into a Transit Oriented Development (TOD), this permits reduced parking count being offered on site. Crews were recently seen prepping the site for demolition, which aligns with the developer recently applying for demolition permits.