WICKER PARK — A North Avenue currency exchange shuttered earlier this month and a Dunkin' Donuts is set to replace it, while a Sleepy's mattress shop will become the flagship tenant for a new building planned on the grounds of a parking lot next to the exchange, a leasing manager says.
Just east of the Milwaukee, Damen and North avenues intersection and in business for almost 30 years, the A-Z Zenith Currency Exchange at 1938 W. North Ave. was owned by Ron Kaine.
"The currency exchange business has changed over the last several years and redevelopment of the properties makes sense now," said Mitch Goltz, a principal with GW Property Group, which signed up Dunkin' Donuts to move into the former exchange.
Alisa Hauser says the currency exchange was a staple in Wicker Park:
Kaine, who owns the building at 1938 W. North Ave. and its parking lot, is working with Goltz to bring the new building to the parking lot, which is across from Piece Brewery and Pizzeria and Brobagel, the new bagel takeout and delivery spot that plans to open this week.
Exclusively for customers of the currency exchange, the parking lot was underutilized, Goltz said
"The parking lot was not the highest or best use for the property and we saw this as an opportune time to build something that can benefit the community," Goltz said.
The new three-story, 8,000 square foot building, which has an address of 1942-46 W. North Ave. according to renderings, will be anchored by Sleepy's on the first two floors, Goltz said.
The third floor, which offers 2,300 square-feet of retail space, is still open for new commercial tenants, as are the second and third floors above the future Dunkin Donuts, Goltz said.
Goltz said the new building will be connected to the Dunkin Donuts and there will be an elevator that will service both buildings.
The design facade for the new building matches the neighboring building in an effort to "maintain the character of the neighborhood," Goltz said.
Goltz said plans for the new building are being completed and then will be submitted to the city for permits.
If all goes as planned, the new building and Sleepy's would open in the spring and the Dunkin Donuts, where construction has already begun, could be open as early as October, Goltz said.
Plans for 1942-46 W. North Ave.
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