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Mixed-Use Project Promises to be Devon 'Landmark'

CHICAGO-A mural will camouflage three stories of parking within a six-story, $16-million building at the northeast corner of Devon and Rockwell avenues that will include 30 condominiums and 13,000 sf of retail space.

By Mark Ruda | Updated on August 09, 2005

CHICAGO-Not only will a $16-million mixed-use development at Devon and Rockwell avenues give the city about 180 additional parking spaces, it also is designed to camouflage the 214-space garage incorporated in the three-story building. However, the city is subsidizing 28% of the cost of the project, giving ASAT Inc. two parcels worth $915,000 for $1, and providing up to $3.6 million in tax increment financing.

The deal, endorsed Tuesday by the community development commission, has been in the works longer than the nearly three years it has taken to decide on ASAT Inc.’s plan over two from a competing developer. “The request for proposal has been pending for almost three years, but I’ve been working on this for almost 10 years,” says 50th Ward Alderman Bernard Stone. “It’s been needed in my community for God knows how long.”

Now used for 45 metered parking spaces serving the bustling Devon Avenue retail district, the northeast corner of Devon and Rockwell avenues will get 13,000 sf of ground-floor retail space facing a public plaza, 30 condominiums on the fifth and sixth floors, and 214 parking spaces on the second, third and fourth floors, according to ASAT Inc.’s plan. In addition, Chicago architect John Hanna has incorporated a glass and tile mural on the building’s side. “We had to figure out a way to hide a parking garage,” Hanna says.

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