Developer Jeremy Michor has reportedly proposed plans to build an apartment building near Diversey Harbor in Lakeview.
The 50-unit apartment building at 506-514 W. Diversey Parkway, described as the Parkway East project, will have 44 two-bedroom apartments and six three-bedroom penthouse suites as well as 50 residential parking spaces spread over two stories, with retail space in ground floor.
Confirming that the apartments are intended to be rental units, Michor said: “It will be built on a higher-end finish,” at a South East Lake View Neighbors meeting, reports Dnainfo.com.
According to his LinkedIn profile, Michor is president of Gabriel Development Group, “a custom home builder in the Western Springs area of Chicago.”
“We specialize in new construction as well as custom additions,” the LinkedIn profile says.
While the two-bedroom apartments will cover approximately 1,100 to 1,200 sq. ft. of space, an average 3,200 sq. ft. has been allotted for each penthouse on the building’s top two floors.
The building design enables drivers to access the parking lot through an alley behind the building. The same entrance will be used for move-ins and garbage collection.
The firm expects to begin construction by as early as spring 2015, spring 2016 at the latest.
Local residents are very concerned about the potential for increased traffic to an already congested area as a result of this project in addition to the the nearby Lexington Homes’ 17-story building project.
To solve the issue, Ald. Tom Tunney (44th) and Ald. Michele Smith (43rd) have agreed to work together, while the developer has proposed a traffic study of the area.