UPTOWN — The office of Ald. James Cappleman (46th) has released renderings of a proposed apartment building that would replace a venerable furniture store whose owner plans to retire after 28 years in business.
Ace Furniture, 4027 N. Broadway, would be transformed into a five-story, 20-unit apartment building under a plan from Akara Partners.
Renderings show a modern-looking brick and glass building to be built in Uptown's Buena Park area. It would include 19 parking spaces and parking and storage for cyclists, according to the developers application.
The development would have ground-floor retail shops, cost at least $5 million and require a zoning change to allow for a higher-density development, according to Cappleman's office. There's no date set yet for the zoning request to be reviewed by the city.
Ace owner and landlord Hyo Nam, 75, said he's ready to retire, saying his sales have suffered due to competition from online retailers and big-box stores, and that he's struggled to pay his property taxes.
"Now I can't make it survive," he said in May.
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