Initial details have been revealed for a mixed-use development at 1565 N Clybourn Avenue in Near North Side. Sitting on the northeastern corner of the intersection with N Halsted Street, the proposal was announced in a recent newsletter from second ward alderman Brian Hopkins. The project is being developed by New York-based The Georgetown Company, though an architect is currently unknown.
The relatively small roughly 12,000-square-foot site is currently occupied by a one- and two-story commercial building across the street from the Apple store and New City development. The existing structure was previously occupied by a Bank of America branch and is owned by The Georgetown Company. They also own the adjacent retail building with Design Within Reach as well as the four-story parking garage in the rear.
While not many details were revealed, we know the 158-vehicle parking garage will remain and the new building will rise 37 stories in height. This will easily place it at around or above 400 feet in height, surpassing the newly completed Foundry nearby which reaches 300 feet tall. The ground floor will contain 2,500 square feet of commercial space capped by 396 residential units, most likely made up of studios, one-, and two-bedroom layouts.
Future residents will have near direct bus access to CTA Routes 8, 9, and 72 as well as the CTA Red Line North/Clybourn station. The developer will now conduct a community outreach meeting next week where further details will be revealed. The meeting is a requirement as the project applies to rezone the site from a B3-5 Community Shopping District to a Residential-Business Planned Development. At the moment no timeline is known.