LAKEVIEW — A slow stretch of Halsted Street in southeast Lakeview could soon be home to 24 upscale condominiums, according to preliminary development plans.
Developers said this week they hope to create three residential buildings at 2825-2839 N. Halsted St. Each four-story building would house eight units: two ground-level duplexes with basement family rooms, and six three-bedroom apartments on upper floors.
The units would sell for $500,000 to $600,000, according to developer Igor Blumin, who was citing preliminary plans.
Current zoning for the lot, which sits just north of Diversey, forbids ground-level residential units.
Developers on Monday night asked the South East Lake View Neighbors group to back a zoning change that would allow them to avoid installing commercial space on the first floor.
"Less than one block from our site, there are at least five vacant stores," developer Orest Baranyk said. "That, to me, is one incentive not to provide any commercial space on the ground floor. All we would be doing is contributing to more vacant space in the area."
Blumin said the developers "did extensive research" on the empty retail and found that most storefronts rent for $20-25 per foot.
"If you're looking at new construction," he said, "you're looking at higher rent. So if you cannot rent [in the area] for $20, the chance to rent it for $30 is slim."
South East Lake View Neighbors is expected to vote on the request later this summer.
Preliminary development plans for the Halsted site call for "rather generous" space between the three condo buildings, Baranyk said.
"Most of the time in Chicago, you'll get about three to six feet between buildings," he said. "In this case, we're providing about 18 feet. We want to create green space, and it gives a little bit more openness."
Each of the three buildings will have eight parking spaces, developers said. Six cars will fit in parking garages behind the buildings, while two would fit inside the lot. All parking is accessible through the alley.
Current building plans do not call for elevators. The developers are in final talks to purchase the Halsted lot.
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