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Restaurant, Retail Coming to Austin

CHICAGO-W.J. Management, Inc. gets a 39,000-sf site at 5223-41 W. Madison St. for $1 from the city, allowing it to build a two-story, 7,600-sf restaurant, 8,000 sf of retail space as well as a two-story, 3,400-sf office property.

By Mark Ruda | Updated on March 14, 2005

CHICAGO-The first sit-down restaurant to open in Austin in decades will be built at 5223-41 W. Madison St. In addition to the two-story, 7,600-sf restaurant, W.J. Management, Inc.’s $4-million proposal includes 8,000 sf of retail space as well as a two-story, 3,400-sf office property.

The city is selling the developers two properties totaling 39,000 sf, recently appraised at $376,000, for $1. The sale to W.J. Management, Inc., which hopes to have the project done by early next year by using an “aggressive construction schedule,” was endorsed recently by the community development commission.

“This development will certainly add value to the Austin community,” says 29th Ward Alderman Isaac S. Carothers. “One of the things we need in the Austin community is a full-service restaurant with table service.”

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