CityPads-linked venture to build 59-unit apartment project in University Village

A company tied to Cubs Chairman Tom Ricketts sold the property at 1407 West 15th Street in May for $3.7M

TRD CHICAGO /
Oct.October 08, 2018 02:00 PM

1407 W 15th Street and CityPads founder Andrew Ahitow

A venture linked to developer CityPads will build a four-story, 59-unit apartment building near the former site of the ABLA Homes in the University Village neighborhood.

The city’s buildings department issued a final permit Friday for the project at 1407 West 15th Street, on the southern edge of Addams/Medill Park, according to city records.

Addams Development LLC paid $3.7 million in May to buy the vacant lot from a shell company linked to Chicago Cubs Chairman Tom Ricketts, according to Cook County property records. The deed lists CityPads founder Andrew Ahitow as a contact for Addams Development.

Construction is estimated to cost $17 million, according to city records. Built Form is listed as the project’s architect, and YRL Builders is the general contractor.

The ABLA Homes were made up of four separate Chicago Housing Authority complexes, including the Jane Addams Homes, before they were demolished in the mid-2000s.

A few blocks to the north and east, Related Midwest [https://therealdeal.com/chicago/tag/related-midwest/] is heading up a redevelopment of the Roosevelt Square Chicago Public Library that will add 73 CHA-administered apartments for seniors to the building.

Last week, CityPads received permits to begin construction on a 105-unit apartment complex in Edgewater.


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