LAKEVIEW — A former Bank of America drive-through building on Ashland will be replaced by a retail building with two or three tenants next year, the property's new owner said.
Newcastle Limited hopes to start construction on the property at 3301 N. Ashland Ave. in the spring, said Brennan Hitpas, vice president at the company. The bank building, which has been vacant for some time, will most likely be torn down, he said.
The new businesses could be anything from a restaurant to a clothing store. Nobody has signed a lease yet, Hitpas said, but the company has been in talks with several people. Hitpas hopes to secure tenants before construction begins, he said.
The planned building for the lot at Ashland and School, right across from Whole Foods, will have parking on the roof instead of at ground level.
Target announced earlier this year that it plans to open a store at 3201 N. Ashland Ave., just south of the Newcastle property, by October 2015. That impacted Newcastle's decision, but it wasn't the only reason the company decided to buy the property in June.
"We just think it's a great site," Hitpas said. "It's on a busy intersection. We like Lakeview."
Hitpas hopes that the development will be finished next fall.