The Real Deal Chicago

GW Properties approved for apartments, retail overlooking 606 in Bucktown

Plans for 1750 North Western Avenue include 109 units and 9K sf of retail
By Alex Nitkin | September 13, 2018 03:00PM

GW Properties principals Mitch Goltz and Shai Wolkowicki

GW Properties scored initial city approval to build a six-story complex with 109 apartments and 9,000 square feet of retail space overlooking the 606 Trail in Bucktown.

The $45 million project, set for an L-shaped, 32,000-square-foot property at 1750 North Western Avenue, envisions a 70-foot tall complex built from masonry and black metal cladding with staggered balconies overlooking the popular bike-and-pedestrian trail.

The developer’s plans include a direct path from the building’s second floor to the trail, in addition to a “generous public plaza” and publicly accessible restrooms. It would feature a mix of 1-, 2- and 3-bedroom apartments, plus a roof deck.

The new building would replace a Mobil gas station and car wash on the site.

The proposed zoning change, from M1-1 and C1-2 to B3-5, will need approval from the City Council’s zoning committee as well as the full council.

The site lies in one of the Affordability Requirements Ordinance pilot zones established last year, meaning the developer must offer 15 percent of the units, or 16 apartments, at affordable rents.

GW last month paid just under $6 million to acquire the historic Hollander building in the heart of Logan Square for a mixed-use office, retail and residential redevelopment.

Amid heavy development and skyrocketing property values in the vicinity of the three-year-old 606 Trail, the city mulled a proposal earlier this year to offer local homeowners grants to renovate their properties.