CHICAGO—Chicago-based Centrum Partners LLC recently broke ground on Centrum Lakeview, a five-story, 36-unit residential apartment building at 3400 N. Lincoln Ave. in Lakeview. Located adjacent to the “L” Brown Line stop at Paulina, it is one of the first approved projects under the City of Chicago's transit-oriented development ordinance, which allows the construction of large residential buildings with reduced parking if they are located near public transportation or designated pedestrian-oriented streets.
“The idea is if you have more housing close to transit you are going to get more cars off the road,” Centrum partner Graham Palmer tells GlobeSt.com. And although he expects a relatively diverse group to occupy the new building when Centrum completes it in spring 2016, “given the site's proximity to the train station we believe that it will attract individuals who prefer using public transportation. The largest group of renters in terms of age is going to be millennials. And they tend to take public transportation or ride their bikes to work.”
The 40,000 square foot building will offer studios as well as one and two bedroom apartments ranging in size from 535 to 1,036 square feet. Units will feature floor to ceiling windows, modern kitchens and upgraded bathrooms with Snaidero Cabinetry and Kohler fixtures. Renters will have access to many amenities including a fitness/billiard room, secure bike storage, same day dry cleaning and package storage.
Palmer says that Centrum will add green features such as a green roof, electric car charging station, energy efficient appliances and windows and a building recycling program.
Centrum acquired the ¼-acre site from KF Lakeview, LLC in 2014. Vacant for years and last used as a staging area for “L” construction, it will now have a 6,000 square foot retail space along Lincoln Ave.
Centrum has more than half a dozen other TOD projects in its pipeline, Palmer says. “We're looking at Lincoln Park, Lakeview, Bucktown, Logan Square and others. All of these areas have great walkability and amenities.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
