LINCOLN PARK — A huge development could be coming to North Avenue along the border of Lincoln Park and Old Town.
The owner of the nearly 1.7-acre Father & Son shopping plaza at North Avenue and Larrabee Street hired brokerage firm CBRE to sell the property so it can be redeveloped, according to Crain's.
Currently, the 27,181-square-foot plaza houses Marcello's, A Father & Son Restaurant, the former Tipre Hardware shop and Pet Stuff, among other retailers.
The owner told Crain's that he is hoping to sell the plaza for $30 million.
There are two redevelopment options on the table: Keeping it a single-story retail property and bringing in new tenants with higher rents or building a new retail project with up to 350 units, according to the report.
A representative with CBRE couldn't immediately be reached for comment.
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