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Cornerstone, Watermark will build Rogers Park apartments

1531 West Howard Street and Eric Theisen, managing partner and co-founder of Watermark

Cornerstone LLC and Watermark Equity Group will build a transit-oriented residential development in Rogers Park.

The six-story development at 1531 West Howard Street — which just received a construction permit — will include 38 units and 2,900 square feet of retail space, according to Curbed. It will also have a rooftop deck and 21 parking spaces.

Ald. Joe Moore (49th Ward), who supported the project, said though small it was “the first privately-financed, market rate development on Howard Street east of the CTA tracks in decades.”

The building will replace two vacant buildings and a parking lot. A previous developer proposed a five-story condominium building with ground-floor retail but the plans fell victim to the recession.

Construction is expected to take a year. [Curbed]John O’Brien 

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