Ashland Development Pumps Up with Purchase of Building at Irving Park
LAKEVIEW — Watch out: Ashland Avenue's Lakeview stretch may be pumping up even more.
A more than 18,000 square foot mixed-use building at the southwest corner of Ashland and Irving Park was recently purchased by JDB Properties, an LLC run, in part, by investor John Nannini, for $1.45 million, according to the Cook County Recorder of Deeds.
The building's biggest storefront housed a Mattress Discount store — but that hasn't been around in nearly a decade, according to Hamoon Forouzi, son of the owner's of the Subway franchise next door at 3952 N. Ashland Ave. The storefront to the south of Subway has been empty for a long time, too.
"We'e gotten used to being the only store on the corner," Forouzi said.
Nannini isn't sure what the LLC will do with the property and stayed mum on potential ideas. But he said the group would be ready to go public with ideas in about a month.
"We're kicking around some things," he said.
Lakeview's strip of Ashland may look drastically different soon — both a Target and a large senior housing facility will be joining the street. Target will be taking over a building at 3201 N. Ashland formerly slated to be a condo building, and Artis Senior Living of Wrigleyville, LLC will go up near Addison.
Forouzi said they've been told the Subway can probably stay open during renovations. Any planned zoning changes would have to be approved by Ald. Ameya Pawar (47th).
For existing businesses, a pump up in development on the corridor currently stricken with empty storefronts could help. Forouzi is hoping some new business neighbors will be joining in the next few months. Most of Subway's business comes from neighbors and teachers at nearby Lake View High School relying on sandwiches for lunch, he said.
"I'm sure it'd be a lot better if there were other businesses," he said.