Another Mixed-Use Development Is Likely To Rise Near The Western Blue Line
By Stephen Gossett in News on Apr 25, 2017 7:45PM
Few acronyms carry as much controversy in urban development as TOD. Transit-oriented developments, of course, are intended to bulk up housing inventory near CTA stations, but they're often subject to sharp criticism in some communities for driving up housing costs and spurring displacement. Near the top among those communities are Logan Square and Bucktown. And a highly desirable parcel of real estate that lies near the border of those neighborhoods—and lies within the TOD ordinance—has just changed hands, with a developer set to propose a mixed-use development with single-bedroom rents starting in the $1,400 ballpark.
The 4,000-square-foot vacant parcel at 1966 N. Milwaukee Ave. was sold for $550,000 to Kiferbaum Development, broker Greg Dietz confirmed to Chicagoist. The buyers did not return a request for comment, but developer Joseph Kiferbaum gave this rundown of specs to DNAinfo: 2,200-square-foot retail space with one- and two-bedroom apartments above. (2Bs will run about $2,300 for rent.)
If built, the mixed-use structure will take root nearby a couple of controversial developments—including one directly next door, at the corner of Armitage and Milwaukee. Developed by Loop-based outfit Clayco, a 132-unit, eight-story residential building that's planned for the site sparked a wave of disapproval from neighbors to its size last year.
And that's just down the street from a TOD at North Campbell Avenue and West Armitage Avenue, which saw construction crews blocked by activists in November who demanded that half of the development's units be allocated for affordable housing. Studios at that development begin at a pricy $1750 per month.
Given that recent history—and so much requisite anxiety from the glut of development that has snowballed through Bucktown and Logan along Milwaukee in the last couple of years—it'll be interesting to see how this one plays out.