Permits have been issued for constructing a new five-story residential building located at 224 S Ashland Avenue in the Near West Side neighborhood. The permit lists both Roma Fund Investments and Viktor Jakovljevic Revocable Trust as owners. Axios Architects are serving as the architects of record for the project which will involve a ground-floor garage with 56 parking spaces, and 56 dwelling units spread across the remaining four floors. The development will neighbor the existing Circle Park Apartments which is just north of the planned build.
The site is very accessible via transit with the Ashland & Roosevelt stop directly across the street where Routes 9 and X9 can be boarded. Beyond the bus stop lies the Medical District. Those seeking to board the CTA L can find the Pink Line at the Polk station via a 10-minute walk north. There are many retail and dining options that service the nearby campuses that are easily found within a five-minute walk in any direction of the future development.
Vivify Construction will act as the general contractor for the build which the permit reports as having a cost of $8.4 million. As updated renderings and details become available we will report back. No timeline for construction, nor a timeline for the removal of the existing property has been disclosed at the time of this reporting.