The Loop’s LaSalle Street is set to undergo a significant transformation, with the city announcing three winning proposals as part of the LaSalle Reimagined initiative. These mixed-use makeovers will receive $188 million in tax-increment financing (TIF) dollars and will add 1,059 apartments to the financial district, with 317 of them being affordable.
Final construction progress is closing in for a mixed-use building being developed by Cedar Street Companies at 4600 Kenmore Avenue in Uptown. The five-story building is set to house 2,500 square feet of retail space on the ground floor and 62 rental apartments situated above. The unit sizes will range from studios to two-bedroom apartments. Specifically to the fifth level, a portion of the units will also possess their own private terrace space intermingled with a green roof.
Mayor Lori Lightfoot has announced the winner of the recent East Garfield Park Request For Qualifications (RFQ). The multi-site proposal is centered around the intersection of W Lake Street and N Kedzie Avenue, with this first phase replacing a 50-year-old vacant lot located at 132 N Kedzie Avenue. The city selected Hub 32 as the winning proposal led by the Michaels Organization, KMW Communities, and TruDelta Real Estate.
An anticipated groundbreaking date has been announced for the first phase of the Bronzeville Lakefront megadevelopment in Bronzeville. Located on the massive former Michael Reese Hospital site, the multi-phase project is the first in the nation to have a 50 percent Black development team. That team is operating under the name GRIT Chicago LLC and comprises Farpoint Development, Loop Capital, Draper & Kramer, Chicago Neighborhood Initiatives, McLaurin Development and the Bronzeville Community Development Partnership.
A new mixed-use project is set to replace a three-story masonry residence at 3019 N Lincoln Avenue in Lake View. The narrow four-story construction will yield three residential units atop a ground-floor retail space. The project is being led by Volo Holdings LLC, while Hanna Architects is serving as the architect of record.
