CityPads is set to start work on a six-story building near the CTA Granville Red Line station with 105 apartments above 3,700 square feet of retail space.
The city on Thursday granted the Chicago-based developer its final building permit for the project, which will also feature 45 parking spaces. The project is expected to cost $9 million, according to building permit records.
CityPads bought the site at 6145 North Broadway for $3.4 million in August 2017, according to Cook County property records.
The developer originally proposed to build a 187-unit complex, but criticism from neighbors led Alderman Harry Osterman (48th) to reject that plan, DNAinfo reported at the time. A smaller second proposal earned the alderman’s support.
Plans called for a mix of studios, one-bedroom and two-bedroom apartments ranging in rent between $1,200 and $2,100 per month.
CityPads’ portfolio lists 11 residential complexes across Chicago and suburban Oak Park, including four under construction, plus the Broadway building.
The Edgewater complex is planned two blocks south of Borekci Real Estate and Algonquin Ventures Real Estate’s 58-unit “The Arcade” development, which got underway earlier this year.
Farther south in Edgewater, VennPoint Real Estate bought an 80-unit condo building at 5525 North Winthrop Avenue this summer with eyes on a deconversion to apartments.
And in June, Laramar bought a pair of mixed-use low-rises in the neighborhood for $15.8 million.
CityPads did not immediately respond to a request for comment on Friday.Recommend0 recommendationsPublished in