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Upscale Developers Top Bidder For Stewart School, Cappleman Says

By Josh McGhee | October 23, 2015 3:03pm
 Grame Stewart Elementary School, 4525 N. Kenmore Ave.
Grame Stewart Elementary School, 4525 N. Kenmore Ave.
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DNAinfo/Adeshina Emmanuel

UPTOWN — Morningside USA, a real estate developer from Chicago with 20 years of experience in upscale development, was the highest bidder for the shuttered Graeme Stewart School building, Ald. James Cappleman (46th) announced Friday.

Four developers submitted bids for the shuttered school at 4525 N. Kenmore Ave. Morningside's proposal was chosen as the top bid by Chicago Public Schools, Cappleman said.

Bidding for the shuttered school building opened in September.

The next step is consideration by the Chicago Board of Education at its monthly meeting, which is scheduled for Oct. 28 at 10:30 a.m. at 42 W. Madison St.

If Morningside is approved, it "will submit their formal plans for this property and residents will have an opportunity to provide their feedback at a 46th Ward Zoning & Development Committee meeting," Cappleman said in his newsletter.

"The Broadway/Wilson corridor is going through an incredible transformation at this time, and much of it has been due to the rehab of the Wilson 'L' Stop. The Stewart School proposal will further compliment other new developments to make this a more vibrant area," he said.

Chief Operating Officer of Morningside Mary Ellen Martin was scant on details when reached by phone Friday adding they must meet with Cappleman to discuss details first. Their plans do include housing, she said.

According to its website, Morningside Group "does more than just develop properties — it builds communities."

The firm has developed multi-family communities, retail centers, office spaces, museums, public transportation, parking structures and public plazas.

Cappleman's office said they don't have the final details on the project and would not comment on the planning until Cappleman meets with Morningside.

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