Old Town's seen an uptick in construction activity—developers are speculating it could become a hot residential and retail market. The City issued a demolition permit to JAB Real Estate for a planned six-story, mixed-use development on North Avenue.
The $16M project at 227-233 West North Ave will feature 60 apartments, 2,000 SF of retail and 20 parking stalls, according to Curbed. JAB wants to tear down the existing three-story building on the site, which contains retail and 24 apartments.
The JAB development joins a growing Old Town pipeline, much of it centered near North Avenue. Sedgwick Properties is building a 69-unit apartment building at 301 West North Ave. Chicago Development Partners wants to build a boutique hotel on the site of O'Brien's Restaurant & Bar. And CBRE is marketing Father & Son Plaza at North and Larrabee as a mixed-use redevelopment play. the activity has many Old Town residents concerned the new projects will disrupt Old Town's quaint, tranquil feel. [Curbed]
