Seattle, WA-based Security Properties plans to tear down the existing structure and construct two mid-rise towers with 360 residential units and 36,000 sq. ft. of base-level retail on the 1.8-acre site. The development will also have 300 car and 200 bike parking spaces.
Designed by Chicago-based FitzGerald Associates, the rendering suggests that the towers, separated by a small pedestrian walkaway, will be connected by a skybridge. The north tower features about 25,605 sq. ft. of retail space intended for a yet-to-be confirmed grocery store and the south tower facing Milwaukee Ave. will have about 7,030 sq. ft. of divisible retail space.
Chicago’s Zoning Committee and City Council will now review the proposal for final approval.
The firm purchased the property last year.