Downsized plans have now been approved by the Chicago City Council for the upcoming proposal at 2565 West Madison Street in the Near West Side. Sitting near the intersection with North Western Avenue, we last covered the project back in April of this year, when it was first announced with additional floors and units.
Site plan for 2565 W Madison St by 2RZ Architecture
Rendering for 2565 W Madison St by 2RZ Architecture
Efforts are being led by Level Development, who has been working with local firm 2RZ Architecture on the design. Set to replace a large vacant lot, the original proposal was set to rise five stories and roughly 60 feet in height, containing ground-floor retail, 20 parking spaces, and 56 residential units on the upper levels.
Floor plans for 2565 W Madison St by 2RZ Architecture
After some slight edits, the project will now rise four stories in height but maintain its curved details and circular windows. The ground floor will still contain the retail space, fitness room, and a 20-vehicle parking garage in the rear. The floors above will now contain 42 residential units made up of 27 one-bedroom and 15 two-bedroom layouts.
Elevations for 2565 W Madison St by 2RZ Architecture
Elevations for 2565 W Madison St by 2RZ Architecture
The building will feature pronounced inset balconies, with nine of the units set to be considered affordable. The building itself will be clad in a mix of masonry and metal panel accents. The team is now clear to apply for permits but will need to finalize its purchase of the property first. At the moment, no cost, contractor, or timeline has been confirmed.
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What….all bedrooms have windows? pinch me!
Windows in bedrooms for dayyyyyyys!
This neighborhood is ripe for many more projects like this. This is the place to make money in Chicago real estate today.