Chicago Cheat Sheet: Free Market Ventures plans West Loop rentals … & more

Also, a row of new Oak Park townhomes is being turned into rentals
By John O’Brien | December 10, 2018 04:00PM

Free market ventures’ Jack Buck

Free Market Ventures plans West Loop rental building

Chicago developer Free Market Ventures wants to build a 24-story, 193-unit apartment tower at 37 South Sangamon Street in the West Loop. A neighborhood leader said the developer has not yet met with community groups about the plans for the property that Quest Realty Group bought for $2.5 million in 2013 with plans for a 28-unit condo building that never materialized. A venture of Free Market bought the lot this year. [Block Club]

New Oak Park townhomes to be converted into rentals

A row of four townhomes in suburban Oak Park will be turned into rentals after a couple bought all of the units. Ranquist Development Group and Campbell Coyle Homes intended to sell the townhomes on Harrison Street individually but ended up selling them all to Cathy and Scott Yen for less than $2.2 million in late November. Cathy Yen said the idea is to broaden the rental offerings in Oak Park. [Crain’s]

Billionaire Henry Crown’s longtime Evanson mansion sold

An Evanston mansion once home to billionaire Henry Crown sold last week for $1.8 million. Crown lived in the six-bedroom, 8,919-square-foot Tudor-style mansion on Edgemere Court for more than a half century until his death in 1990. His family sold it to Philip and Jacqueline Crihfield in 1997 for $1.6 million. They first listed it for $3 million in 2016. [Chicago Tribune]

County land bank giving away single-family home

The Cook County Land Bank Authority once again is holding a contest to give away a home for free. The 2018 Home Giveaway Lottery will award the winner with a 2,000-square-foot home in west suburban Maywood. The land bank acquires vacant and abandoned properties, satisfies any outstanding mortgages or back taxes, and then sells them in an effort to reduce blight. [Chicago Magazine]

Heartland Cafe closing in Rogers Park

Beloved Rogers Park restaurant the Heartland Cafe is closing as it looks for a new location. Owner Tom Rosenfeld said he’s “pretty far along” on selling the property, and the last day for the cafe at 7000 North Glenwood Avenue will be New Year’s Eve. [Block Club]

Tiny Lounge also closing New Year’s Eve

Pioneering North Center craft cocktail bar Tiny Lounge is closing at the end of the month. Owners Colleen Flaherty and Mark Johnson said the bar at 4352 North Leavitt Street will close Dec. 31. The restaurant group will continue to operate Tiny Tavern at Navy Pier and Tiny Tapp & Cafe on the Downtown Riverwalk. [Block Club]