New 58K SF Mixed-Use Development Unveiled in Chicago's Lincoln Square

Exciting New Mixed-Use Development Coming to Lincoln Square

There's a buzz in the air as plans for a fresh mixed-use development at 5035 N Lincoln Avenue in Lincoln Square have been unveiled. This exciting project is set to transform an existing construction site on the southeast corner with W Winnemac Avenue into a vibrant, multi-purpose space. The development is a testament to the ongoing growth and revitalization of the Lincoln Square neighborhood.

Project Details and Design

The project is spearheaded by 5019 Lincoln LLC, with the architectural design being handled by the renowned local firm, Hanna Architects. The firm is known for its innovative residential proposals in the area. The development will be built on a 14,793-square-foot lot that was initially intended for a different project. However, with the previous project canceled, the new development aims to make the most of the existing foundation walls.

Community Involvement and Rezoning

As part of the project's transparency, details were shared at a recent community meeting. The developers are seeking to rezone the site and plan to demolish all existing site work. The rezoning process is crucial to ensure the new development aligns with the community's needs and the city's urban planning guidelines.

What to Expect

Upon completion, the new building will offer 58,700 square feet of space adjacent to two new residential buildings. The structure will stand five stories high, reaching approximately 60 feet. The ground floor will feature a 15-vehicle parking garage, a 1,200-square-foot commercial space, and three live/work units with storefronts. The upper floors will house 47 residential units, with a mix of one- and two-bedroom layouts. Nine of these units will be designated as affordable housing, catering to those earning 60 percent of the Area Median Income.

Architectural Highlights

The building's design will feature a unique sawtooth shape along its front face on Winnemac Avenue. The exterior will be clad in ironspot brick, complemented by silver and orange spandrel panels. The building's overall massing will be broken up by balconies and varying window layouts, adding to its aesthetic appeal.

Looking Ahead

While the developers are keen to maintain the site's current zoning, they are looking to modify some previously approved amendments. As of now, the construction timeline remains unknown. However, the anticipation surrounding this development is palpable, and it's clear that this project will add significant value to the Lincoln Square neighborhood.

Conclusion

This mixed-use development at 5035 N Lincoln Avenue is a shining example of Lincoln Square's growth and potential. It's an exciting time for prospective homeowners, real estate investors, and industry professionals keeping an eye on this vibrant neighborhood. Stay tuned for more updates on this promising project.