LAKEVIEW — Novak Construction Co. has begun demolition on a 1920s-era building at Ashland, Lincoln and Belmont avenues, but the company is mum about what's coming in.
The site at 3201 N. Ashland Ave. formerly housed LaSalle Bank and the Medic building, but has been vacant for years. Target bought the lot in 2013 and announced plans for a new store, but put the site back on the market in May.
In August, Chicago-based developer Novak Construction Co. announced it would buy the site and pursue a mixed-use building, according to Crain's Chicago Business. The project could include as much as 60,000 square feet of ground-level retail shops with 80 to 160 residences above.
A spokeswoman with Novak confirmed the purchase and demolition, but refused to comment on development plans.
The company has started demolition, which includes tearing down the Medic building, an art deco building constructed in 1929. Ald. Tom Tunney (44th) said "all of the significant ornament" from the building will be removed, stored on-site and reused in the new development.
Demolition should be completed by mid-November.
Tunney's office said any project at the site will be subject to public hearings before going before the Chicago Plan Commission and City Council.
Tunney's office has issued development guidelines, which include maintaining commercial activity on Belmont and Ashland, reusing the facade of the Medic building and conducting a comprehensive traffic study.
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