5 Story Apartment Building Planned in Chicago

An empty lot at 758 W. North Avenue, located in Chicago’s bustling North and Halsted area, is set for a fresh start. Base 3 Development plans to construct a five-story apartment building, bringing modern design and functionality to a historically rich neighborhood.

A Look Back at the Site’s History

The lot’s past is intertwined with the story of its neighbor, Yondorf Hall, and the broader community:

Yondorf Hall: Built in 1887, this Victorian gem features intricate brickwork and once served as a public meeting hall, reflecting the area’s German-American roots.
Past Use: Previously a parking area owned by Steppenwolf Theatre, the lot was sold to CA Ventures in 2018. Plans for a nine-story, 92-unit building stalled, leaving the land vacant for years.

Base 3 Development’s Vision

Crain's Chicago Business reports that in December 2023, Base 3 Development acquired the 0.44-acre site for $1.5 million. Their approach prioritizes a smaller-scale, community-friendly project with 48 residential units. This decision reflects both practical economic considerations and a commitment to harmonizing with the neighborhood’s character.

Key Features of the Project

Height and Scale: A five-story design reduces construction costs, keeping rents more affordable.
Apartment Layouts: Rent is estimated at $4 per square foot, with two-bedroom, two-bath units priced around $3,400 per month.
Design Integration: The building’s aesthetic complements the historic Yondorf Hall, preserving the area’s charm while introducing modern elements.

Construction and Design Insights

Balancing Costs and Quality

Efficient Materials: Limiting the height to five stories allows the use of cost-effective materials, ensuring affordable rental rates without compromising quality.
Smaller Unit Count: By opting for 48 units instead of the initially proposed 92, the project achieves a sustainable balance of density and livability.

Merging Old and New

Historic Compatibility: The building’s modest height ensures it doesn’t overshadow Yondorf Hall, respecting the Victorian landmark’s architectural prominence.
Modern Features: Contemporary design elements provide the conveniences expected by urban tenants while maintaining a cohesive streetscape.

Opportunities and Challenges in the Neighborhood

The Vibrancy of North and Halsted

The area has undergone significant revitalization, transforming into a vibrant hub:

Prime Location: Steps from the CTA Red Line station, the Apple store, and the retail corridors of North and Clybourn avenues, the site is ideally situated for urban living.
Dynamic Evolution: From a German-American enclave to a bustling urban center, the neighborhood reflects Chicago’s ongoing transformation.

Overcoming Development Hurdles

Previous plans for the site faltered due to high costs and logistical challenges. Base 3’s thoughtful, smaller-scale approach positions the project for success while addressing the needs of the community.

What’s Next for the Project

Construction Timeline: While an official start date has not been set, the building is expected to be completed by mid-2026.
Target Market: The development’s boutique-style apartments will appeal to professionals seeking high-quality, conveniently located housing.

Conclusion

The redevelopment of 758 W. North Avenue symbolizes a new chapter for a long-vacant lot. By blending modern design with historical respect, Base 3 Development is creating a project that enhances the neighborhood’s vibrancy and appeal. This thoughtful approach ensures the site will play a key role in North and Halsted’s continued growth, offering residents a perfect mix of style, convenience, and connection to the area’s rich history.

DataBid is currently reporting on this project - 750 W North Avenue Mixed Use Development Lincoln Park - Chicago (0033122324)