- Credibility:
UPTOWN — A single-story retail building in Uptown will be demolished to make way for an eight-story apartment complex, the latest commercial building targeted for redevelopment in the neighborhood.
The building at 5035 N. Sheridan Road will make way for 77 apartments over ground-floor retail space, according to Ald. Harry Osterman’s (48th) ward office.
Plans for the building at the corner of Sheridan Road and Carmen Avenue also call for units with balconies and 40 parking spaces.
A demolition permit has been issued for the existing building, which most recently held a Supermart convenience store, city records show. Demolition could begin this week, Osterman said in his weekly newsletter.
The development is allowed under the property’s current zoning, meaning it does not need city approval to be built. And because it doesn’t need to be rezoned, the building does not have to include affordable units. No such units are planned, said Dan Luna, Osterman’s chief of staff.
Development firm DLG Management is behind the project.
DLG bought the building in in June for $2.6 million, property records show. That was $100,000 over the asking price for a property marketed as a redevelopment opportunity, according to commercial real estate brokerage CRER.
A building permit for the apartment complex has yet to be issued, records show.
The Sheridan Road project is at least the third Uptown retail building to be targeted for residential redevelopment.
An existing building near the Wilson Red Line stop could get a three-story, 24-apartment addition under a proposal in front of Ald. James Cappleman (46th). On Wilson Avenue, a developer is working to replace the Happy Wash building with 28 apartments.
A Clark Street bank is also being replaced with 36 apartments across the street from Carol’s Pub, one of a few commercial buildings on Clark Street being redeveloped.
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