(To read more on the multifamily market, click here.)
CHICAGO-A "gigantic blue tank," a leftover from a plastics manufacturer that operated in the 2600 block of North Hermitage Avenue, will come down this year in favor of 45 townhomes and six single-family homes, the second phase of Belgravia Group's Hartland Park development. The $34-million project was recently endorsed by the plan commission, and work is scheduled to begin this month.
The three-acre site was assembled last year, costing the developer $10.5 million, according to property records. The 45 townhouses will replace a warehouse and 50-foot silo, according to the Department of Planning and Development. They will supplement the 38 townhouses and 24 single-family homes built in Hartland's first phase.
The property at Hermitage and Schubert avenues is expected to be rezoned from manufacturing to allow for the planned residential development. Once an industrial area, the only survivor is wholesale housewares company Trade Associates Group, Ltd., while the rest of site is surrounded by newer single-family and multifamily homes.
"We've tried to put a diversity of housing types into the area," says 32nd Ward Alderman Theodore Matlak. He adds development has been difficult in the West DePaul area because of older buildings on odd-shaped lots, with different owners embarking on varying development plans over the last 20 years.
Belgravia Group's three-story townhomes will range from 2,600 sf to 4,650 sf, with prices in the high $600,000 range. Plans also call for a 0.9-acre park.
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