WICKER PARK — A developer hoping to revitalize Wicker Park's eastern edge near the North Avenue Kennedy Expressway ramp has announced that rents in a new luxury apartment building will likely start at $1,900 and go up to $4,000 for duplex penthouse dwellings.
The five-story, 30-unit apartment building, at 1545 W. North Ave., is on track to open this spring and will be anchored by a 2,600 square-foot ground-floor retail storefront.
“We are proud to have worked collaboratively with the city and area residents to contribute to the redevelopment of this stretch of North Avenue, improve the neighborhood and create a much-needed luxury housing alternative in an area where it has been missing," Marty Paris, president of Sedgwick Properties, said in a news release issued on Tuesday.
Part of a planned development that will also include a new Audi dealership at 1521 W. North Ave., the apartments are two blocks west of the Kennedy Expressway and five blocks east of the CTA Damen Blue Line "L" stop.
The development is located behind a Shell gas station at the southeast corner of North and Ashland avenues that is expected to be demolished to make way for a 99-room hotel, though those plans have not been finalized.
Estimated to cost $3 million to build, the development will be topped by a 1,282 square-foot green roof, according to a permit.
The apartment building offers a mix of one, two and three-bedroom apartments, with individual units ranging from 675 to 1,500 square feet. The Duplex penthouse units offer private rooftop terraces.
Rents are expected to range from $1,900 to $4,000. Building amenities include an elevator, valet dry cleaning service, bicycle storage and gated parking for 30 spaces.
Residents can expect "top-of-the-line finishes," including custom cabinetry, quartz countertops, professional-grade appliances, hardwood flooring in living areas, luxe carpeting in bedrooms, in-unit washers and dryers and expansive private balconies, Paris said.
Paris described the "once-underutilized stretch of North Avenue" as "changing dramatically" and emphasized its proximity to the Kennedy Expressway, CTA No. 72 North and No. 9 Ashland avenues buses as a draw for for commuters.
No tenant has been tapped yet for the apartment building's lower-level storefront.
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