Lakeview Restaurant to become apartment building

Developer plans a five-story residential building with 48 units

A photo illustration of the planned building at 3817 North Ashland in the North Side neighborhood (top) along with the current restaurant at that site (bottom) (Getty Images, Google Maps, 360 Design Studio)
A photo illustration of the planned building at 3817 North Ashland in the North Side neighborhood (top) along with the current restaurant at that site (bottom) (Getty Images, Google Maps, 360 Design Studio)

A Chicago developer plans to build 48 apartment units at the site of a restaurant in Lakeview.

Mavrek Development plans to demolish the restaurant, at 3817 N. Ashland in the North Side neighborhood, and replace it with an entirely residential building, according to Urbanize Chicago. The city issued a building permit on Aug. 13, eight months after the demolition permit.

Mavrek hired as its general contractor 4 Corners Construction, and 360 Design Studio as the architect for a 65-foot-tall building that will include 31 one-bedroom units, 13 two-bedrooms and four three-bedrooms. Ten apartments will be set aside as affordable, double the number required by the city, and the ground floor will include 22 parking spaces and storage for 40 bikes.

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Apartments are a hot commodity in the North Side. Earlier this month, Horizon Realty paid $38.5 million to add a luxury apartment complex in Chicago’s Edgewater neighborhood to its portfolio.

Chicago-based Horizon bought the property at 5600 North Sheridan Road, dubbed The Bryn for its location in the Bryn Mawr Historic District near the lakefront, from an LLC that shares an address with Boston private-equity firm Alcion Ventures. Public records show the corporation bought the property in partnership with Chicago-based Golub & Co. for $37 million in 2016.

[Urbanize Chicago] — Miranda Davis

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