Chicago Cheat Sheet: Cedar Street plans another Uptown rental project…& more

Also, Neil Bluhm’s daughter shopping Winnetka mansion

Chicago /
May.May 17, 2019 05:16 PM
Cedar Street’s Alex Samoylovich and a rendering of the building

Cedar Street’s Alex Samoylovich and a rendering of the building

Cedar Street is adding another Uptown rental project to its plate

Cedar Street Companies is planning another Uptown apartment project, adding to its sizeable portfolio in the area. The Chicago developer is looking to build an 84-unit transit-oriented development on a parking lot at 4750 North Winthrop Avenue. The units will be a mix of studios and one-bedrooms. A community meeting to discuss a proposed zoning change for the project is scheduled for Thursday night. [Curbed]

Daughter of Walton Street Capital founder Neil Bluhm cashing out in Winnetka

A daughter of Walton Street Capital founder Neil Bluhm listed her Winnetka mansion for $4.7 million. Meredith Bluhm-Wolf and her husband, William Wolf, bought the home at 905 Sunset Road in November 2004 for $3.1 million and conducted an extensive renovation. Jenna Radnay of @properties has the listing. [Crain’s]

Controversial Jefferson Park affordable complex set to get state tax credits

The Illinois Housing Development Authority was set to approve tax credits for a controversial affordable housing complex in Jefferson Park on Friday, the last day in office for Alderman John Arena (45th). Arena’s support of Full Circle Communities’ five-story, 75-unit building at 5150 North Northwest Highway became an issue in his election loss this spring to Alderman-elect Jim Gardiner. Forty-five of the apartments will be set aside for those making up to 60 percent of the area’s median income,15 will be set aside for those earning up to 30 percent and 15 will be market rate. [Block Club]

Elk Grove officials looking to spruce up village gateway with property acquisitions

Elk Grove Village officials agreed to pursue the condemnation of a Motel 6 at the corner of Higgins and Busse roads and All Auto Clinic and EJ Pierogi across the street. But officials said they’re still working to buy the properties through a traditional real estate deal, as they did the nearby Elk Grove Hotel with a $5.6 million acquisition in October. The village said it’s trying to acquire the properties and sell them to a developer who’ll beautify a key gateway to the town. [Daily Herald]

Quest’s latest project is an Edgewater rental complex

Quest Realty Group is proposing a six-story apartment building on empty land in Edgewater. The Chicago developer’s 59-unit Loft Lago project would go on a long-vacant property at 5950 North Sheridan Road. It would feature a mix of one-, two- and three-bedroom apartments, and deliver in spring 2021. Quest bought the property for $2.9 million in March 2018, and is in the process of trying to secure a zoning variance for the project. [Crain’s]


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