A new construction permit has been issued for a 3-story, 3-unit masonry apartment building at 4156 South Michigan Avenue in Bronzeville. The permit was issued on September 23, taking 24 days to process.
The new building will include a rear deck, stair, and detached 3-car garage. The reported cost of construction is $350,000. Fees paid so far total $4,253, including $2,300 in building fees, $75 in zoning fees, and $1,878 in other fees.
Architect Peter Sterniuk is behind project plans. The property owner is GT Alternatives LLC. When complete, the property will be a short walk from CTA Stations servicing the Green Line.
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How do I contact the property manager?
Here is a website: https://gtalternatives.com/
Guess it’ll be another one of those CG, bland, box, affordable, tax incentive buildings.
What does it mean for property values, condo sales and stability, with so many apartment buildings being built? Are these luxury or affordable housing?
These are likely to be market-rate apartments.