Developer L3 Capital plans to develop a two-story mixed-use building at 1043 N Rush Street in Near North Side. The new build is located between E Bellevue Place and E Cedar Street. The site is currently home to Carmine’s, a small two-story building.
This multi-tenant building will include retail on the ground floor and new restaurant space on the second floor. Upon the expiration of their current lease, Carmine’s will relocate to the second floor of the new building which will also include a private outdoor terrace overlooking N Rush Street.
According to the leasing flyer, the ground floor will offer four total retail spaces. The retail spaces will measure 2,345 square feet, 2,237 square feet, 2,097 square feet, and 1,447 square feet. The smallest space will likely be the street frontage for Carmine’s. The retail spaces will be well-curated to complement the existing tenancy, specifically targeting tenants in the designer, athleisure, and direct-to-consumer categories.
The new building will be within the existing DX-7 zoning, so a rezoning approval from City Council is unnecessary. Due to its proximity to the lakefront, the project must secure Lakefront Protection Ordinance approval from the Chicago Plan Commission.