LOGAN SQUARE — Living above Margie’s Candies could be hazardous to your health, but for those willing to take the risk to their waistlines, there’s 20 new apartments being built atop the iconic ice cream parlor.
Last week, the city issued a building permit to Baum Revision for a $3.7 million renovation project at 1965 N. Milwaukee Ave. Baum Revision bought the building in July 2016 for $3.73 million, county records show.
Margie’s Candies, a well-known, third-generation ice cream parlor, will remain in the building, according to Todd Glickman, Baum Revision’s chief operating officer for residential development.
“Margie’s is staying and has been renewed on a longterm lease. We are thrilled to have them as part of the project — they are an iconic Chicago institution and an important part of the community,” Glickman said.
Along with adding 20 apartments to the second floor of the two-story building— a floor previously used as bank offices — the permit calls for a rooftop deck and interior and exterior alterations to the entire building and basement.
Glickman said that the 20 apartments will be built “as of right,” meaning no zoning change is required.
The developer declined to share details on the size of the apartments or whether any of the units would be reserved for affordable housing. But he confirmed the project would be considered a transit-oriented development due to the nearby CTA Western Blue Line station. Transit-oriented developments require fewer dedicated parking spots than traditional developments.
Only a 1,500 square-foot storefront on the Western Avenue-facing side of the building, next to Margie’s Candies, is still for rent, Glickman said. The remainder of the ground floor of the building is currently leased and a tenant or tenants is expected to be announced soon.
“We aren’t ready to disclose full details on the project. … We expect construction to begin in 3-4 weeks time. The project will be transformative to the intersection and will be an impactful, differentiated addition to the Bucktown neighborhood. We’re very excited about it,” Glickman said.
Technically in Logan Square, the building also borders Bucktown, and is not too far from nearby Wicker Park and Humboldt Park.
Built in 1917 for First Securities Bank, the building was later acquired by Cole Taylor Bank. A branch of Cole Taylor bank that was adjacent to Margie’s closed in December 2014 when MB Financial acquired Cole Taylor bank, according to reports.
Peter Poulos, owner of Margie’s, previously said that Margie’s Candies initially was called First Securities Candies when it started in 1921. The name was changed in 1933 when his father, George Poulos, became the shop’s sole owner and named it for his wife, Margie.
After the building was sold two years ago, Poulos told DNAinfo he welcomes the potential improvements from new landlords.
“I am supportive of the plan; it’s better for the community. More jobs, more people working,” Poulos said.