UPTOWN — A Sheridan Road strip mall in Uptown is set to be replaced by an upscale apartment complex.
Mavrek Development plans to buy the commercial strip at 4501 N. Sheridan Road and build a 59-unit apartment building with 36 parking spaces and ground-floor retail, Marvek principal Adam Friedberg said.
The development firm is working now to close on the sale of the strip mall and hopes to start construction this summer, Friedberg said. The project would require roughly a 14-month buildout period.
Mavrek will partner with GW Properties, a prominent developer of commercial property in Chicago.
Mavrek’s building would replace one-half of the Sheridan Road strip mall, which is actually two properties. The firm’s plans call for redeveloping the southern portion of the strip, which houses a laundromat, pawn shop and Sunnyside Health Center.
Sunnyside Health Center is run by Near North Health Services Corp., a nonprofit community health agency. The agency runs seven other health centers in the city, most on the South and West sides.
A spokesperson for the agency did not respond to a request for comment on what the development would mean for its Uptown presence.
The development will include 7,000 square feet of retail space on the ground floor at Sheridan Road and Sunnyside Avenue. GW Properties will lead the retail portion of the development, Friedberg said.
No decisions have been made on retail tenants, but the goal is for the space to be an asset to the building’s residents and the community at large, Friedberg said.
Most units in the development will have a balcony, he said. There will be a mix of studios and one- and two-bedrooms.
Though Friedberg said it is too early in the project to announce rents, the units will be luxury. They will average about 750 square feet, he said.
The project would be developed under the property’s existing zoning, meaning it does not require input from neighbors or formal approval from Ald. James Cappleman (46th).
This will be Mavrek’s second recent development within a two-block stretch of Sheridan.
The residential development firm is currently working on a 30-unit apartment building at 4714 N. Sheridan Road, which is replacing ABC & Me Daycare Center. That building is slated to begin welcoming residents in mid-May, Friedberg said.
Mavrek has also done recent developments at 843 W. Agatite Ave. and at 6125 N. Clark St. in Edgewater.
Despite all the residential development activity in Uptown, Friedberg thinks there is still demand for more housing in the area.
“There’s a lot of activity in Uptown,” Friedberg said. “There’s a lack of supply. We try to make sure we’re always forward thinking. We’re still very bullish on the market.”
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