Blighted area in Bucktown likely to see new development

0
253
1925 N Milwaukee Ave.

The recent purchase of Illinois Title Loans’s unused parking lot at 1924 N. Milwaukee Ave. by Roseville, California-based Cal Partners LLC may lead to future development in the surrounding blighted patch. The firm bought the site on Aug. 20 for $850,000.

“It’s an important corner and a starter point for those headed south to the Bloomingdale trail. I don’t want it to sit there. I hope developers can also buy the title building because it’s a garbage dump now,” said Ald. Scott Waguespack (32nd), reports Dnainfo.com.

Cal Partners has recently fenced off the parking area. But the rest of the site with the exception of the CTA Blue Line Western “L” station and a recently remodeled McDonald’s, which includes a former Checker’s Drive-In restaurant building at 920-22 N. Milwaukee Ave., is currently for sale.

“It’s obviously a great corner and we plan on redeveloping it,” said Andrew Cohen who is working with Alphonse Ilekis, the firm’s owner. The firm is planning to purchase the building, which has a $1 million selling price. Though retail development for the corner is planned, Cohen said: “We could have a residential component, too, and are keeping options open.” Cal LLC specializes in building strip malls and commercial retail.

“We think it would be more value and a better fit for the neighborhood to have a mixed-use building there, either office or apartments on the upper floors and retail on the ground level. There are lots of possibilities,” said Michael Klaskin, a realtor trying to sell a 1,200 sq. ft. building in the lot.

“It’s still in the infancy stages but I want them to get to the community to talk about their plans,” said Waguespack.

Residents are hopeful about the possible development.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3 × 4 =

This site uses Akismet to reduce spam. Learn how your comment data is processed.