North Park Ventures to convert Lakeview condo building into rentals

The firm is also developing a 22-unit building next door

Chicago /
Apr.April 02, 2018 05:00 PM

3264 N Clark Street (Credit: North Park Ventures)

North Park Ventures plans to convert a Clark Street condominium building into rentals and build another 22-unit residence on the parking lot next door.

Last month, the company bought the property at 3264 North Clark Street in Lakeview for $13.7 million after the building owner’s association decided to sell all 30 condos together, according to Crain’s. The sale also included six first-floor retail spaces and the parking lot.

Now, the company is rehabbing all of the units and developing a five-story apartment building on the parking lot. The original building will retain its classic look, while the new building will feature a contemporary look designed by architects Studio Dwell.

Rob Sekula, a partner in North Park, told Crain’s that monthly rents in the two buildings will run from $1,800 for a 600-square foot one-bedroom to $3,200 for a 1,200-square-foot three-bedroom. Leasing of the original building will start this month, with the new complex expected to be completed in Summer 2019.

[Crain’s]  — John O’Brien


Related Articles

arrow_forward_ios
1930 North Orchard Street (Google Maps)
Lincoln Park mansion sale sets record
Lincoln Park mansion sale sets record
Chicago-Area signed contracts hit record (Getty)
I’ll take it: Chicago-area signed contracts soar past record
I’ll take it: Chicago-area signed contracts soar past record
Homes in the Gold Coast (Getty)
Gold Coast faces 12-year luxury supply glut
Gold Coast faces 12-year luxury supply glut
Nicholas Chabraja, above, and his wife, Eleanor, relisted their Lake Forest mansion (Redfin/Ann Lyon and Jeffrey Folker of @properties)
Lake Forest mansion relists, hoping to ride home sales wave
Lake Forest mansion relists, hoping to ride home sales wave
1919 North Howe Street (Photo via Realtor)
12K sf Lincoln Park mansion sells for $12M
12K sf Lincoln Park mansion sells for $12M
1917 North Howe Street (Google Maps)
Lincoln Park mansion sells for record-breaking $11.9M
Lincoln Park mansion sells for record-breaking $11.9M
An aerial of the 3.3 acre lot in Winnetka (Google Maps)
Lake Michigan lot to sell for record-breaking $24M
Lake Michigan lot to sell for record-breaking $24M
203 Sheridan Road (Redfin)
Here are Chicago’s priciest residential sales of 2020
Here are Chicago’s priciest residential sales of 2020
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...