Initial details have been revealed for the mixed-use development at 7162 S Exchange Avenue in South Shore. Located on the northeast corner of S Yates Boulevard and E 72nd Street, the new structure will replace a vacant lot that used to hold a supermarket which has since demolished near the South Shore Cultural Center. Model of Transformation Design and Development, a local newcomer, is developing the property dubbed ‘XChange’, although no architect was announced.
As a part of the neighborhood’s quality of life plan announced last year according to Block Club, the developers originally proposed a 30-story structure earlier last year with the goal of improving the local quality of life, however it was struck down by the city. Now they have returned with an updated design rising 22 stories and an estimated 250 feet in height with a still-in-development program that will focus mainly on residential, with 15,000 square feet of retail space on the first floor and a parking garage for 100 vehicles.
The floors above would contain 153 residential units made up of one-, two-, and three-bedroom layouts, of which 20 percent of them will be considered affordable. The current design shows exaggerated slabs that extend beyond the building’s glass facade and offer all apartments private balconies, there will also be multiple amenities including a fitness center, pool, and rooftop restaurant. The tower will use a black and gold color scheme in order to reflect Black American culture.
Residents will have direct access to the South Shore Metra station as well as bus service for CTA Routes 5, 6, 26, 71, 75, and 95 all within a 10-minute walking radius, with Jackson Park not too much further. The $61 million project is seeking rezoning and city approval as well as funding from the Chicago Recovery Grant and more. At the moment however plans are still being developed and no construction timeline has been revealed, though the developers did acquire the lot for $250,000 in 2021.