A Joint Venture between M&R Development and Bucksbaum Retail Properties is joining with Lakeview businesses and residents to revitalize the heart of the community with Addison & Clark - a sustainable building project that will stimulate economic growth, support public transit use, widen pedestrian walkways and provide amenities for neighborhood residents.
The project design has been updated and consists of retail outlets, apartment units and parking.
A Planned Development for the site was approved by the Chicago City Council.
Based on extensive collaboration with area community, neighborhood and business groups, the updated project design includes:
- 148 apartment units (studio, one and two bedroom)
- Approximately 146,000 square feet of commercial space
- 405 indoor parking spaces
Because the project is located in a business district and separated from area residences, it represents a unique opportunity to redevelop on a site buffered from existing homes. The development would replace all existing uses on the property with new construction, including the removal of several large, surface parking lots and several billboards.
Demolition of existing structures to commence approximately May 1st, 2016.