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Wrigleyville on the Verge of Big Changes

CHICAGO—The whole area around Wrigley Field is set to receive new and upgraded retail and entertainment options.

By Brian J. Rogal | brianjrogal | | Updated on March 23, 2016
chi-A&C_Retail_Dusk (3) Scheduled for completion in 2018, the project will include 148 luxury apartments and 150,000 square feet of retail commercial space.
CHICAGO— A joint venture of M&R Development and Bucksbaum Retail Properties LLC has acquired 2.3 acres at the southeast corner of Addison and Clark streets in Chicago’s Lakeview neighborhood. The partners plan to transform the property, directly across the street from Wrigley Field, into Addison & Clark, a mixed-use, transit-oriented development that will include 148 luxury apartments and 150,000 square feet of retail commercial space. The developers plan to complete the project in 2018. They will begin demolishing the existing structures on the site in the next 30-60 days and begin construction immediately after. “A lot of great things are happening both inside and outside Wrigley Field,” says Anthony Rossi, Sr. , president of Chicago-based M&R Development. “Just as the Cubs are projected to have one of their best seasons in history this year, we feel Addison & Clark will hit it out of the park, too, raising the bar for residential and retail options in the area.” A developer and owner in high-profile developments like NEWCITY in Chicago’s Clybourn Corridor and The Maxwell in the city’s South Loop, Bucksbaum will co-develop and head up leasing for the retail space located on the first three levels of Addison & Clark. In addition to a multi-screen theater and full-service health and fitness club, the development will include retail and dining options. “Lakeview is a neighborhood steeped in tradition, so we have designed Addison & Clark to complement both the existing offerings in the area and planned additions to the neighborhood coming from the Cubs’ continued investment in the redevelopment of Wrigley Field,” says John Bucksbaum , chief executive officer of Bucksbaum. “Together, these projects will continue to establish Wrigleyville as a 24/7 365-day-a-year destination.” The luxury apartments will include a mix of studio, one- and two-bedroom floor plans, as well as a full suite of amenities. A parking garage with 405 indoor spaces will ease the neighborhood’s parking shortage. Located just one block west of the CTA’s Addison Red Line stop and steps from several major bus routes – Addison & Clark will also offer convenient access to public transportation. “As is the case with all of our residential developments, Addison & Clark will have an upscale feel both in the units themselves and throughout all common areas, providing a highly amenitized lifestyle that, until now, has not been available in this location,” adds Rossi. “The fact that it’s across the street from one of the most iconic sporting venues in America is an added bonus.”  

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