The city council's committee on zoning Tuesday recommended rezoning of the 17,400-sf site that would allow for the construction of a project totaling up to 87,000 sf. Previous zoning would have accommodated a 52,000-sf building.
The six-story building at the northeast corner of Sheridan Road and Leland Avenue in the Uptown community will include retail space on the ground floor, according to Langdon Neal, attorney for Lesher LLC.
Property records show the 1,500-sf building and land were sold for $1 million in July 2002, with Albany Bank & Trust financing the acquisition with an $800,000 mortgage.
The recommendation went against a trend of down-zoning North Side parcels Tuesday. Besides a more controversial capping of development around the Columbus Hospital redevelopment site in Lincoln Park, residents in West Rogers Park seek down-zoning of three blocks in their neighborhood to preserve the single-family housing stock, 49th Ward Ald. Joe Moore says.
Deep lots on the 2000 block of West Touhy Avenue are attractive to condominium and townhouse developers, Moore says. The 7300 blocks of North Bell and Oakley avenues also have been the site of tear-downs of single-family homes in favor of six- and seven-unit condominium and townhouse projects, he adds.
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