Full construction permits have now been issued for 5200 W Chicago Avenue in Austin. The Oak Park Regional Housing Center and Heartland Housing Alliance have partnered to renovate and redevelop the historic Laramie State Bank building and an adjacent parking lot to the west.
INVEST South/West is a broader initiative to together the resources and efforts of multiple city departments, community organizations, and philanthropic partners to deliver development benefits for 12 commercial corridors within 10 neighborhoods on the south and west side. The City of Chicago has garnered $2.2 billion in public and private capital investments thus far.
At the west end of the site, a new six-story apartment building will be constructed to house 78 units. Out of the 78 units, 51 will be priced affordably while 27 will have market-rate prices. The proposed building will contain 37 one-bedroom, 36 two-bedroom, and five three-bedroom layouts, with a convenient conference room and community space at hand. Plus, the structure provides 43 bike storage spots as well as 28 parking spaces.
The new residential building will have an L-shaped design and a courtyard that is accessible to the public during daylight. Local artists are being commissioned to create beautiful front gates for the entrance of the courtyard, as well as a new mural on Laramie State Bank’s building.
Created by Valerio Dewalt Train Associates, the residential component of this project is designed to captivate viewers with its gray masonry walls, white metal paneling, and soaring windows. Adding visual interest are protruding frames along the metal panels that harken back to the grand rectangular entrances found in the existing bank building’s design.
After years of disuse, Laramie State Bank will soon be reinvigorated through its transformation into an exciting new Blues Museum. In addition to the museum itself, this site will also house a cafe and office/co-working space perfect for any entrepreneurs or business owners in the area. Plans also call for a yet-to-be-named bank branch integrated as well. Latent Design and Bauer Latoza Studio will bring the coffered ceiling of the interior back to life while giving way for a sophisticated window installation on its terracotta exterior.
Located at the juncture of Chicago and Laramie, the project is within walking distance (11 minutes south) from the CTA Green Line’s Laramie station. Furthermore, bus stops for Routes 57 and 66 are within just paces of the site.
Bowa Construction is serving as the general contractor, with all work expected to complete by 2025.