NORTH CENTER — The Car Outlet used car dealership on the corner of Western Avenue and Hutchinson Street in North Center is being redeveloped into a five-story building.
On Oct. 2, Western Avenue Partners, Inc. completed its sale of the property at 4210 N. Western Ave. to Nevada-based CFT NV Developments LLC for $2.94 million, county records show.
Comprised of seven lots, the property on Western Avenue is 19,764 square feet and has been a parking lot for the past 40 years.
On Sept. 28, the city approved a permit for the construction of a five-story building that would include 48 residential units, retail space and 48 parking spaces, according to Chicago Cityscape. Of the residential units, 39 are described as “dwelling units” while nine are being called “efficiency units,” according to the permit.
The project is estimated to cost $8 million, according to the permit.
A woman who answered the phone for Car Outlet on Thursday said the used car dealer was no longer selling vehicles at the 4210 N. Western Ave. location but declined to answer additional questions.
Multiple attempts to reach the developer for more information on their plans for the site were unsuccessful.
The property is located within the Western Avenue (South) Tax-Increment Financing (TIF) District and the city’s Special Service Area (SSA) 38.
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