Citypads Chicago news
City Pads’ “Most Ambitious Project” To Rise This Summer Creating High Rent Edgewater Dwellings
What the company is announcing as their “most ambitious project yet,” City Pads LLC and Catapult Real Estate Solutions LLC are expected to complete their permit process this month to build a new complex at 6145 N. Broadway in Edgewater.
The six-story, 79,000 sq ft building will offer 105 apartment units (45 studios, 40 1-bedrooms and 20 2-bedrooms), a private outdoor space and a fitness area. The building will also offer 45 parking spots and a 3,700 sq ft commercial retail space on the first floor.
The project created a bit of controversy when it was first announced in 2016 because the original plans had the building broken down into small units (mostly studios) that averaged only around 400 sq ft. The luxury studios were to be offered with a high rent ranging from $1,250-$1,300 a month.
After community backlash, City Pads revised the plans to offer additional one and two bedrooms which brought it to its current number of dwellings. The facade of the building also was modified to better blend in with its surroundings. Those changes earned it community support at neighborhood meeting and an approval from the Alderman in March of last year.
“After receiving overwhelming support from the community in a vote at last week’s meeting, I am in support of this development moving forward,” Alderman Osterman said in an emailed statement. “I think this will be a solid development that will bring vibrancy to the Granville and Broadway area of our community.”
The rents have remained high however. Studios are still planned to rent for $1,200-$1,300, 1-bedrooms for $1,600-$1,800 and 2-bedrooms for $2,000-$2,100. Ten percent of the apartments would go at an affordable rate per city ordinance. Parking spaces will are expected to be about $125 per month.
The complex will be replacing a single story building which housed a car wash and a cell-phone dealer. Demolition of the current structure and development of the new building is expected to begin first week of July 2018. If all goes to plan, the building should be completed by summer, 2019.
April 5, 2018