The Real Deal Chicago

Near West Side development continues with 42-unit resi complex

The mixed-use building will include a retail component
By Laura Hanrahan | June 11, 2018 04:30PM

2223 West Madison St.

The city’s Near West Side has seen a flood of development in recent months, with the latest plans for a 42-unit residential complex.

A four-story property, it will be located at 2223 West Madison St., and will include a retail component and an attached 42-car garage. The existing property is a 9,750 square foot lot. The city granted a construction permit, and work is expected to cost $7.5 million.

The building will be designed by Sullivan, Goulette & Wilson Ltd.. The general contractor is Global GC Inc.

The developer is an LLC registered to Mykhaylo Sheremet. The property was purchased in September for $1.4 million, according to city records.

Some of the recent residential developments in the Near West Side include TARIS Real Estate’s 10-story condominium building at 900 West Washington Boulevard is nearing completion. Down the block, ZOM Living is ready to break ground on its two planned 15-story towers, which will create 357 residential rental units. The Illinois Medical District also just sold about 26 acres of commercial and retail properties.