City Council has approved the rezoning of 2820 N. Elston. Planned for a site just off the intersection of W. Diversey Ave, N. Elston Ave, and N Western Ave, the property is currently occupied by a one-story masonry building. Reinventive Real Estate is the developer behind the proposal that will replace the current building.
With a design from Jonathan Splitt Architects, the new project will stand five stories tall. The mixed-use development will hold 4,100 square feet of retail space on the ground floor, with 40 residential units above. The unit mix will consist of 4 one-beds, 8 one-bed plus dens, 16 two-beds, and 12 three-bedroom apartments. Rents are expected to average $1,670/month for one-beds, $2,227/month for one-bed plus dens, $2,598/month for 2-beds, and $3,155/month for three-bedroom units.
Rising 71 feet, the building will offer a communal rooftop deck and amenity space on the fifth floor for the exclusive use of the residents. On the ground floor, 27 car parking spaces will be located inside the building, with a remaining 13 located as on-site surface parking. 40-50 bike parking spaces will be included in the building, with 1-2 public bike racks planned for the exterior.
As part of the rezoning process, the developers have agreed to a 25% affordable housing rate on site. With a total of 10 units, 4 will be at or below 50% AMI, 4 will be at or below 60% AMI, and the final 2 will be at or below 100% AMI.
With City Council approval, the site has officially been converted from C1-2 to C1-3. Construction on the project is free to begin after demolition has been completed. While permits have not been filed, Reinventive has targeted a Summer 2022 commencement.