$23M All-Electric Lawrence Gateway Tops Out on a Former Albany Park Parking Lot

• $22.6 million development: MAS Ventures LLC and Malek Abdulsamad have celebrated the topping out of Lawrence Gateway at 2923 W. Lawrence Avenue.
• Five stories of mixed-use space: The project includes residential apartments, ground-floor retail and resident amenities near Ronan Park.
• Q1 2027 delivery target: LG Group is the general contractor, with completion expected in the first quarter of 2027.

What MAS Ventures Is Building at Lawrence Gateway

A major mixed-use development in Chicago’s Albany Park area has reached its structural milestone. MAS Ventures LLC and Malek Abdulsamad recently celebrated the topping out of Lawrence Gateway, a five-story project at 2923 W. Lawrence Avenue, across from Ronan Park. Designed by Wight & Company, the development replaces a surface parking lot and a one-story masonry building with new residential and commercial space. The project is expected to bring additional housing and retail activity to the Lawrence Avenue corridor.

What The $22.6 Million Development Includes

The building rises approximately 61 feet and features residential apartments above ground-floor commercial space. Plans announced for the topping-out milestone call for 40 apartments, including studios, one-bedroom and two-bedroom layouts, with 25% designated as affordable through support from a $5 million Chicago Department of Planning and Development grant. The ground floor is planned with two retail spaces totaling approximately 9,300 square feet, with the residential entrance positioned between them. Residents will also have access to a fifth-floor lounge and outdoor deck overlooking Ronan Park and the Chicago River. The project includes bicycle storage and a separate surface parking area with 19 spaces. The parking layout reflects an underground Metropolitan Water Reclamation District easement that restricts construction across part of the site.

What The Developers Are Delivering On Sustainability

Lawrence Gateway is designed as an all-electric building, eliminating gas-powered cooking and heating systems. The project will use a variable refrigerant flow heating system and is designed to be solar-ready. The development is also targeting ENERGY STAR and Zero Energy Ready Homes standards, reflecting a focus on energy efficiency and lower building operating requirements. For property owners, these features are increasingly relevant as energy costs, building performance and long-term operating expenses factor into multifamily investment decisions.

What Lawrence Gateway Means For Albany Park

The project adds new housing and commercial space near Ronan Park and the North Branch of the Chicago River. Its location places residents near neighborhood recreation, riverfront paths and the Lawrence Avenue commercial corridor. The surrounding area is also benefiting from public investment. Ronan Park has undergone improvements intended to create a stronger connection between the neighborhood, the riverfront and Lawrence Avenue. That investment could complement nearby private development by improving public spaces and neighborhood amenities. For investors, Lawrence Gateway demonstrates how mixed-use infill projects can reposition underutilized parcels while introducing new rental housing and retail opportunities. The combination of affordable apartments, commercial frontage and resident amenities gives the project multiple roles within the neighborhood.

What Comes Next For Lawrence Gateway

With the structure now topped out, general contractor LG Group will move toward completing the exterior, installing building systems and finishing the interiors. The project received its full building permit in October 2025, and completion is targeted for the first quarter of 2027. MAS Ventures' current project information lists 41 apartments and approximately 7,600 square feet of retail, reflecting changes from earlier plans. The topping-out announcement cited the original 40-unit, 9,300-square-foot retail program. For Albany Park, Lawrence Gateway is nearing completion as a new residential and commercial anchor. For Chicago developers, it offers another example of how urban infill and public funding can help bring mixed-use projects to construction.