Renovation work continues for the 24-story Victor F. Lawson House at 30 W Chicago Avenue, located in Near North Side. One of the taller buildings in Chicago at the time, this Art Deco tower was originally designed by Perkins, Chatten & Hammond and brought to completion in 1931. Chicago-based developer Holsten Real Estate will be deconverting the former YMCA from 538 single room occupancy units into 408 affordable studio apartments, which will be preserved as affordable until at least 2073. In exchange, the project received both low income housing tax credits along with $12.4 million in historic preservation tax credits.
Holsten Real Estate has also secured a $17.6 million loan from the city, a $79.4 million loan from Chase Bank, and a $17.2 million loan from the Illinois Housing Development Authority. The renovation of the building is expected to be completed in early 2024, and past SRO tenants will be given selection priority once the work is finished. In the meantime, current tenants can choose to be temporarily relocated during the estimated 30-month construction period. They can also choose to be permanently relocated as part of Uniform Relocation Act.
The new units will have private kitchens and baths as part of the deconversion from shared living areas, and will also have HVAC upgrades and in-unit air conditioning. Amenities within the renovation will include the transformation the existing gymnasium into a fully-equipped fitness center, while the main entrance will be relocated from Chicago Avenue to the intersecting Dearborn Street. There will also be a pair of retail and social services venues on the ground floor. As for the facade, the original limestone cladding will be maintained and refurbished, with architecture firm Farr Associates overseeing the preservation.
The closest public transit to this location includes bus stops for Routes 22, 36, and 66, all within a single block. Those looking to board the CTA Red Line can find Chicago station less than a minute’s walk east. There are also a multitude of Divvy Bike stations and bike lanes in the vicinity.
Walsh Construction is serving as general contractor for the $122 million revamp, which is expected to complete by 2024.