MCZ, GW Properties capitalize on rental demand near the 606

The firms plan transit-oriented developments in Bucktown that overlook the popular trail

Chicago /
Feb.February 21, 2019 09:00 AM

1750 North Western Avenue and 1741 North Western Avenue

MCZ Development and GW Properties are looking to capitalize on the popularity of the 606 trail with a pair of transit-oriented developments next door.

MCZ this week secured a construction permit for its five-story, 25-unit building at 1741 North Western Avenue in Bucktown, down from the developer’s original proposal for 37 units, according to Crain’s.

Across the street, GW Properties plans a 106-unit apartment building at 1750 North Western Avenue that includes a direct ramp from the second floor to the 606.

The 2.7-mile trail has proven popular since it opened on the Near Northwest Side in 2015. In addition to drawing crowds of bikers, runners and stroller-pushing families, the trail has led to surging home prices and rents in the neighborhoods it passes through. That has also raised gentrification fears from community groups and public officials. [Curbed] — John O’Brien

 

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