I invite you to attend a community meeting on a proposal for a seven-story mixed-income and mixed-use development on the 6400 block of N. Sheridan Road that would include market rate and affordable rental housing and a small “flexible format” Target store.
The community meeting will take place Monday, January 30th, 7:00 p.m., at Loyola University’s Crown Center for the Humanities, 1001 W. Loyola Ave. (at the Lake). Parking is available at Loyola’s parking garage, which is just east of the CTA tracks and accessible off of east-west Sheridan Road. For a map of Loyola’s Lake Shore campus, CLICK HERE. Crown Center is number 11 on the map and the parking garage is marked “P1.”
The proposed development site is located directly north of and adjacent to the Caroline Hedger Apartments, a 22-story, 436-unit senior citizen apartment building on the northwest corner of Sheridan and Devon. A community room and parking lot for the Caroline Hedger Apartments currently rest on the property, which is owned by the Chicago Housing Authority (CHA) (see photo on left).
I announced in June that the CHA had entered into negotiations with Three Corners Development to develop the site and that Three Corners, in turn, was negotiating with Target to serve as the anchor tenant for the development.
Last fall, Three Corners reached a contingent agreement with the CHA to lease the CHA’s property for 99 years and develop the site for housing and retail use. In December, Three Corners entered into a contingent lease with Target to become the anchor retail enter for the development.
Both agreements are contingent upon the parties obtaining a “business-residential planned development” designation from the Chicago Plan Commission and the Chicago City Council.
The developers propose a seven-story mixed-use development with 111 apartment units, consisting of a mix of one- and two-bedroom units. The proposed building would be approximately the same height as the “Morgan,” the building immediately to its north. Approximately 60% of the units would be reserved for CHA residents and the remaining 40% would be rented at market rates.
Known as the “Concord at Sheridan,” the proposed development also contains 29,400 square feet of ground-floor retail space, including a 23,000-square-foot flexible format Target store. Additionally, the residents of the Hedger Apartments will receive a new 5,000-square-foot community room with a roof-top terrace.
The proposed development calls for 133 below-grade parking spaces for residents and retail customers and a left-turn bay on Sheridan Road to allow northbound traffic to enter the garage without backing up traffic. Additionally, I will be working with the Chicago Department of Transportation to explore additional improvements on Sheridan that would allow for better traffic flow and a more pedestrian friendly environment.
Target’s new flexible format stores cater to densely populated urban areas and nearby college campuses and are considerably smaller than the traditional “big box” Targets.
The proposed Target will be 23,000 square feet, about the size of a Walgreen’s. In comparison, the Target store in Uptown is 200,000 square feet, nearly ten times the size of the Target contemplated in the proposed development. The Target store on Peterson is 160,000 square feet and the Evanston store is 132,000 square feet.
The flexible format allows the store to customize its goods and products to cater to local tastes. Chicago is currently home to three other small flexible format Target stores, including 401 E. Illinois Street in Streeterville (see photo on right), 2650 N. Clark Street in Lincoln Park, and 1346 E. 53rd Street in Hyde Park.
Below is a PowerPoint presentation that provides the proposed design, site plans, elevations, floor plans, parking layout, traffic circulation, and loading zones for the development. It also provides some information on the proposed Target:
I already have hosted meetings on the proposed development with the residents of the Hedger Building and residents of the 6400 block of Magnolia, who live immediately adjacent to the proposed development. Next week’s public meeting will allow the entire community to weigh in on the proposal. I urge you to attend the meeting to offer your opinions and suggestions regarding the new development. If you are unable to attend the meeting, please share your thoughts with me by replying to this email.