I invite you to attend a meeting to provide community residents with information on the upcoming development of a six-story 38-unit rental apartment building with ground floor retail space at 1531 W. Howard (south side of Howard at Bosworth). The meeting will take place Monday, April 24th, 7:00 p.m., at the Willye White Park Fieldhouse, 1610 W. Howard.
The property is zoned B3-3. The development, which will be known as “Howard-Rogers Lofts,” is allowed under the current zoning. No zoning change, variance or special use permit is required.
I asked the developers to present their plans to the community as a courtesy, given that the development will represent a significant improvement to the property in question and Howard Street as a whole.
The site currently is home to a paved vacant lot and two vacant buildings that once housed a tire shop and a Chinese restaurant (see photo below). The vacant buildings will be demolished to make way for the development.
About ten years ago, a previous property owner planned to construct a five-story mixed-use retail and condominium building on the site, but the proposal fell victim to the “Great Recession” and the property remained vacant ever since.
The current developers, Jay Johnson of Cornerstone Investment Group, and Eric Theisen and Freddy Ellis of Watermark Equity, purchased the property out of foreclosure about a year or two ago and worked to secure financing for the development.
The development will contain 38 units of “condo-grade” quality rental apartments. The first floor will contain 2,900 square feet of retail commercial space, indoor automobile and bike parking, and storage. The second through fifth floors will contain dwelling units, with a community room and fitness area on the second floor. The building will also contain a roof-top deck with views of the lake and downtown Chicago.
Below are pdfs of the elevations, site plans, and floor plans for the development:
The developers anticipate the building will be constructed and ready for occupancy within the next two and one-half years.
Members of the development team will be present at the meeting to explain the details of the plans and respond to any questions you may have.