GW Properties approved for apartments, retail overlooking 606 in Bucktown

Plans for 1750 North Western Avenue include 109 units and 9K sf of retail

TRD CHICAGO /
Sep.September 13, 2018 03:00 PM

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.


Related Articles

arrow_forward_ios

Marijuana REIT has crafty legal strategy in Illinois, Rockford mayor favors $310M casino pitch: Daily digest

Blackhawk flips condo at No. 9 Walton, Arena begins new life at Planning Department: Daily digest

Chicago is runner-up for very grim mortgage award, hotel market chugs along: Daily digest

Brixmor Property Group CEO & President James M. Taylor Jr. and Core Acquisitions Managing Principal Adam Firsel (Credit: iStock)

Retail junkie Core Acquisitions picks up sprawling shopping center for $21M — Portillo’s included

PepsiCo CEO Ramon Laguarta and WeWork CEO Adam Neumann with the Old Post Office (Credit: Getty Images)

Space race: WeWork, PepsiCo may take a combined 320K sf at 601W Companies’ Old Post Office

The top five most active multifamily general contracting firms were approved to build 3.7 million square feet of residential development over the last year.

These are the top multifamily general contractors in Chicago

Chicago’s top 5 retail contractors built over 357,000 square feet of new commercial develop from May 2018 to June 2019. (Credit: iStock)

These are Chicago’s top general contracting firms for retail

John Buck and Morgan Stanley want big payday for “Big Red,” former city development chief joins Clayco: Daily digest

arrow_forward_ios