(To read more on the multifamily market, click here.)
CHICAGO-The owner of a Southwest Side restaurant is planning more than a menu change. Ted Athans plans a five-story, 84-unit condominium at 7050 W. 63rd St., where he has a 1.1-acre site in addition to the Dallas Restaurant.
The $25-million proposal was cleared by the plan commission after questions whether it would interfere with operations at Midway Airport, less than two miles east. Department of Planning and Development commissioner Lori T. Healey says the 55-foot building is not in a flight path. "There are buildings of this height further to the east," she adds.
Units will range from 775 sf to 1,320 sf, and Athans tells GlobeSt.com prices will likely range from $275,000 to $325,000. The building will include 149 indoor parking spaces on below-grade and first levels, with the 21 condominiums on each of the four upper floors. He adds he hopes to begin construction as soon as necessary zoning changes and permits are in hand.
Athans' property is zoned M1-2, and is in the Harlem Industrial Corridor. He is seeking RM-5 zoning to allow for a residential building. Although manufacturing uses are to the north and east, multifamily development is in the other two directions, according to the Department of Planning and Development.
Although the restaurant has been in operation for more than 20 years, city officials say it is obsolete, and Athans' proposed building fits into the surrounding neighborhood.
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