Noah Properties is moving forward with a mixed-used development on the West Side.
The local developer, led by Bart Przyjemski, secured a building permit for its planned development at 1257 North Ashland Avenue in Wicker Park, Urbanize Chicago reported.
The five-story project, on a 9,800-square-foot lot near North Milwaukee Avenue, will feature 24 apartments, all two-bedroom units with balconies. A shared rooftop deck is also planned.
The ground floor will include a little over 2,000 square feet of retail space. The building will have 10 car parking spaces and 38 bike parking spaces. The structure will rise to 72 feet, featuring a brick facade, black windows and metal paneling.
Demolition permits were issued last month for three multi-story structures on the site: a one-story building at 1257 North Ashland, a three-story building at 1259 North Ashland, and a four-story structure at 1301 North Ashland.
Buildmax Company will serve as the general contractor, with Jonathan Splitt Architects overseeing the design. The funding source hasn’t been disclosed.
The project marks Noah Properties’ latest endeavor in Chicago. The company recently listed a multifamily development in Chicago’s Galewood neighborhood.
The 237-unit North Oak Lofts development consists of multiple small-scale multiunit buildings with two- to four-bedroom apartments starting at $2,500 per month. CBRE’s John Jaeger, Justin Puppi, Jason Zyck, and Danny Zebowski are marketing the property.
Noah Properties acquired the land in 2014 and developed the project in phases. The firm secured an $87 million loan against the property in 2019 and a $46 million loan in 2021. The total investment amount has not been disclosed.
— Andrew Terrell
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