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Chicago Mixed-Use

Mixed-Use on Tap for Former Ravenswood Industrial Building

Another former manufacturing plant is slated to be redeveloped for mixed-use, this time in the Ravenswood Industrial Corridor. Developer Joe Hayes' original plan for the former Newark Electronics plant at 4801 N Ravenswood Ave was to chop the 135k SF into smaller offices but he felt that market was oversaturated. Instead, Hayes will seek to have the building rezoned for apartments and office space. Hayes told DNAInfo there's a greater need in the area for residential, anyway. If Hayes gets the zoning change he would build 36 residential units. One-bedrooms would run $1,100 monthly for 700 SF while two-bedrooms would cost $1,600 for 1,100 SF. [DNA]

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