MCZ Development is planning a new condominium building on a historic property in Ukrainian Village.
The five-story, 16-unit project will be built adjacent to the 1920s-era building at 1938 West Augusta that was once home to Pure Dairy Products, the city’s only Ukrainian dairy, according to Chicago Agent Magazine. It most recently was a Leona’s Italian restaurant.
MCZ bought the property in May 2017 for $2.8 million, securing a $3.6 million mortgage from Lakeside Bank, according to Cook County records.
Construction costs are expected to be about $5 million, according to city records. Units will start at $700,000 and be ready by mid-2019.
The former dairy was once slated to be torn down until Alderman Brian Hopkins (2nd Ward) blocked the demolition permit amid an uproar from neighbors and preservationists.
The project is among several completed or in the works around the city for MCZ, including a 20-story apartment tower planned for Fulton Market.
[Chicago Agent] — John O’Brien