CityPads to build 105-unit Edgewater apartment complex

The developer won approval for the project at 6145 North Broadway after scaling back initial plans

Oct.October 05, 2018 03:00 PM

Rendering of 6145 N Broadway, Citypads managing principals Andrew Ahitow, Elliot Offenbach and Daniel Zivin

CityPads is set to start work on a six-story building near the CTA Granville Red Line station with 105 apartments above 3,700 square feet of retail space.

The city on Thursday granted the Chicago-based developer its final building permit for the project, which will also feature 45 parking spaces. The project is expected to cost $9 million, according to building permit records.

CityPads bought the site at 6145 North Broadway for $3.4 million in August 2017, according to Cook County property records.

The developer originally proposed to build a 187-unit complex, but criticism from neighbors led Alderman Harry Osterman (48th) to reject that plan, DNAinfo reported at the time. A smaller second proposal earned the alderman’s support.

Plans called for a mix of studios, one-bedroom and two-bedroom apartments ranging in rent between $1,200 and $2,100 per month.

CityPads’ portfolio lists 11 residential complexes across Chicago and suburban Oak Park, including four under construction, plus the Broadway building.

The Edgewater complex is planned two blocks south of Borekci Real Estate and Algonquin Ventures Real Estate’s 58-unit “The Arcade” development, which got underway earlier this year.

Farther south in Edgewater, VennPoint Real Estate bought an 80-unit condo building at 5525 North Winthrop Avenue this summer with eyes on a deconversion to apartments. 

And in June, Laramar bought a pair of mixed-use low-rises in the neighborhood for $15.8 million. 

CityPads did not immediately respond to a request for comment on Friday.

Related Articles

Don Thompson and 212 North Canal Street (Credit: Cleveland Avenue, Google Maps)

VC firm led by ex-McDonald’s chief buys River West office building

Founder, President and CEO of Oxford Capital Group John Rutledge with Hotel Felix and Hotel Julian (Credit: Oxford Capital Group, Hotel Felix and Google Maps)

Oxford Capital designates 5 of its Chicago hotels for coronavirus housing program

The 21c Museum Hotel at 55 E Ontario Street and the Hilton at 720 S. Michigan Avenue (Credit: Google Maps)

More hotels fall victim to coronavirus pandemic

Gov. J.B. Pritzker (Credit: (Photo by Scott Olson/Getty Images)

As clock ticks on small businesses, Chicago offer loan lifeline

CEO of VEREIT Real Estate Glenn Rufrano and Topgolf at 2050 Progress Parkway (Credit: Andrew H. Walker/Getty Images and TOPGOLF INTERNATIONAL, INC.)

Vereit pays $50M for Topgolf-leased Schaumburg complex

Taurus Investment Holdings CEO Peter Merrigan and 4000 S. Racine (Credit: Google Maps)

Going strong: Another massive Chicago area industrial portfolio sells

Jeff Bezos and from left: 24101 South Bradley Street, 315 South Hicks Road, 1800-1825 North 5th Avenue  and 3639 Howard Street (Credit: Bezos via Mark Ralston/AFP via Getty Images; 24101 S. Bradley via Venture One; 3639 Howard via Hillwood Investment Properties; 315 S. Hicks and 1800-1825 N. 5th via Google Maps)  

Amazon’s big adventure in the Chicago industrial market

A rendering of Related’s proposal for the former Chicago Spire site and Related Midwest president Curt Bailey (Credit:  42nd Ward and Related Midwest)

Related drops hotel from twin-tower resi megaproject