JAB Realty to build six-story building in Old Town

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1553 North Wells St. / Google Maps

JAB Realty & Development has landed a construction permit for a condo project in Old Town, according to a report from The Real Deal.

The 23-unit, six-story building will be built at 1553 North Wells St. The building, designed by Space Architects + Planners, will feature five floors of condos over ground-floor retail, according to the published report.

Records show that JAB paid $3.6 million to buy the property in September 2017. The company secured a $16.8-million construction loan in July from Lakeside Bank, according to the record.

The general contractor is Midwest Heritage Builders. There was no information available about the construction timeline.

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