New York-based JK Equities plans to build a 39-unit residential building on the Near West Side.
The city’s buildings department began reviewing a permit application for the seven-story complex at 1400 West Monroe Street earlier this month, according to public records.
JK Equities paid $6 million to acquire the roughly 14,500-square-foot property in June, according to Cook County property records.
The building, which faces the seven-acre Skinner Park and Whitney Young Magnet High School near the west edge of Fulton Market, wouldl include two- and three-bedroom units, according to the firm’s website. The developer wants to demolish the five-story Monroe Pavilion Nursing and Treatment Center to make way for the new structure.
JK Equities’ portfolio also includes three South Loop developments: the 74-story 1000M tower, an 8-story loft building next to it and a redevelopment of the Vesta Battery Corporation Headquarters at 2100 South Indiana Avenue.
Shapack Partners last month bought a 27,000-square-foot property at 224 North Ada Street, and principal Jeff Shapack predicted the neighborhood’s building boom would soon spread to its western half.