Draper and Kramer, Inc. has started construction on a seven story, 120 unit mixed-use development at 949 W. Dakin Street in Chicago's Lakeview community. The location is across the street from the Sheridan Red Line station and two and half blocks north of Wrigley Field. (Rendering above courtesy of Sullivan, Goulette & Wilson Architects and Draper and Kramer Inc.)
RE Journals reports that the transit-oriented development will replace a single-story structure that Ace Hardware used to occupy. This is expected to fill a portion of the 13,000 square feet of retail space that will be on the lower level of the new building.
"Our development at 949 W. Dakin fills a niche in the local apartment market by bringing a boutique rental property to one of the North Side's most popular neighborhoods. Wrigleyville, in particular, has seen a wave of new mixed-use projects that have transformed the area into a year-round destination for visitors and, increasingly, a full time home for Chicagoans drawn to the area's numerous amenities, including convenient access to the lakefront and public transit."
CEO of Draper & Kramer Inc. | Todd Bancroft
The building was designed by Sullivan, Goulette and Wilson Architects and will include the following:
- 108 one-bedroom/one bath units
- 12 two-bedroom/two bath units
- Floor plans ranging from 620 - 1,040 sq. ft.
- Rents starting from $1,900 per month
- 9 foot, 4 inch ceilings with exposed structural elements
- Modern kitchens with stone countertops and stainless steel appliances
- Full size washers and dryers
- Walk-in closets
- Building's rooftop deck will offer views of Lake Michigan and Wrigley Field with grilling stations, outdoor dining tables, separate lounge chairs, a tv viewing area and several fire pits
Indoor amenities will include the following:
- Large ground-floor lobby with floor to ceiling windows
- Several gathering areas with couches and chairs and tables for meetings
- Private clubroom with a bar/kitchen
- Fitness center
- Heated bike room
- Coffee shop
- Lakeview Ace Hardware
- Two additional retail spaces also at street level
Residents will be able to walk to all of Wrigleyville's famous sports bars and restaurants. An open air park and Chicago's scenic Lakefront Trail are both a few blocks away.
According to Draper and Kramer, Leopardo Construction is the general contractor on the project and expects to deliver the apartments by August 2021.
Draper and Kramer financed the project through the Chicago regional office of the U.S. Department of Housing and Urban Development. Gershman Mortgage acted as the HUD lender in the transaction.
Draper and Kramer Inc. was founded in 1893 and is a trusted financial and property services provider with a deep commitment to people, service and integrity spanning more than 125 years. They are a family owned business and one of the leading privately held real estate services firms in the U.S.
DataBid is currently reporting on this project - 949 W. Dakin Street Mixed Use Development - Chicago (0096042319)
