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Originally Posted by Jibba
The site in question is B3-5. If it extends all the way south to 1548, you're looking at ~18,000 gross sq. ft. The most they can get out of that would be almost 90 units. The corner building at North/Wieland alone has 54 units. For this to be even half worth it, I would want triple the unit count. And it would never be worth it to me, because there is a scarcity of urban spaces like this where you have two buildings with proud bays and no setbacks opposite one another on a tight street with no landscape strip.
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According to the Crains article the building being demo'd has 24 apartments
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The buildings JAB bought, which had been home to the Tipre Hardware store and 24 apartments, will be demolished by Aug. 1, when construction will start on the new structure,
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Personally I think the ship sailed on some of these cutsy historic buildings in areas like this. It will be hard to justify their preservation when 1) they are right next to giant auto-sewers like North Avenue which badly needs to be fronted by more prominent structures which reinforce the streetwall and convey a bolder sense of urbanity and 2) when land values, particularly close to transit, are getting so high.
If Chicago had gone about the business of doing what it's currently doing (having a central area residential boom of epic proportions) back in the 1910's/1920's like New York did, we would be seeing beautiful and ornamented 10-20 story buildings all over the place instead of these newer structures going up. But alas, much of Chicago's prewar building stock consists of these nice but far too small properties which are no longer serving the demand that's out there.