In 2019, Moody Bible Institute initiated a plan to sell 10 acres of real estate near its main campus in Near North Side. Having been to JDL to make way for the new North Union megadevelopment, the offloading of these properties resulted in roughly $200 million in net proceeds. These proceeds are now being channeled into campus improvements, new infrastructure, long-term reserves, and educational endowments.
A new construction permit has been issued for 1216 W Cornelia Avenue, a three-story residential building in Lake View. The project will span three stories with an additional basement level and yield two dwelling units.
Structural work has reached full height for the 27-story 868 N Wells Street in Near North Side, replacing a former low-rise brick building that was demolished last year. The developer of this mixed-use tower is JDL, who has planned for 411 units and 12,000 square feet of retail.
Construction continues on the mixed-use redevelopment of 4735 N Western Avenue in Lincoln Square. Located just north of the CTA Brown Line at Western station and near the intersection with W Lawrence Avenue, plans to renovate much of the building were revealed earlier this year along the changing corridor. Developer Rany Management is behind the project and worked with local firm Kennedy Mann Architects on its design.
A construction permit has been granted for a new mixed-use development at 3545 W Belmont Avenue in Avondale. The proposed four-story structure will feature commercial space on the ground floor and four residential units across the second to fourth floors. This development will replace what is currently a vacant lot, with front balconies, a basement, trash enclosure, and a rear two-vehicle garage included in the plans. The project is owned by Kazimierz Dojka.
