Monday, September 14, 2015

15-Story Micro Apartment Building Proposed for Small Vacant Lot at Polk and Dearborn

Well this sounds interesting and promising (via Curbed Chicago):
Local developers LG Construction + Development are proposing a 15-story apartment building to be squeezed into a quarter-acre plot of undeveloped land across from Dearborn Station in Printer's Row, and for a tiny lot come tiny apartments. Averaging around 350 square feet, these studio units will feature a high-end design and finishings meant to entice young professionals or empty-nesters into adopting a type of living that's only just now beginning to take hold in Chicago. These ultra-compact homes, sometimes known as micro apartments, often require a bit of a lifestyle adjustment to fully embrace but are popular in other cities when they offer convenient locations in areas that might be too expensive to live in a larger unit. Given Printer's Row's close proximity to the Loop, office workers might appreciate living someplace minutes from downtown for just over $1,000 a month without needing roommates and with higher-end design.
The building would also have 1,300 square feet of retail space facing Dearborn street which would be a nice addition to one of the most intriguing retail strips in the Sloop.

But more importantly, the concept seems very practical for the neighborhood.  As more and more people and housing options continue to come to the Sloop it seems like rental prices continue to climb.  Having a different price point and type of layout seems interesting for the neighborhood because there seems to be a lot of the same currently:

Also, while many people like using this space as an unofficial dog park or like the charm of a seasonal Christmas tree lot, the fact is that it's a lot (albeit a small one) that has an excellent location in the heart of Printer's Row.

Could be interesting...we shall see.

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