June 29, 2010 – After all the debating and downsizing, it looks as though the proposed Addison Park on Clark, otherwise known as the Wrigleyville project, has finally gotten approval from the City of Chicago Plan Commission. According to a recent article in the Sun Times, this Chicago real estate development will have a 137 room hotel, 140,000 square feet of retail space and 135 residential units, including Chicago condos and apartments.

Most of the development’s opposition has voiced concern that the project was too large for the neighborhood and would drive out local businesses. Other concerns cited increased traffic and parking issues. But with the green light from the Plan Commission, the proposal will move on to the City Council for approval.

Because one of the primary concerns was that the development’s height would overshadow Wrigley Field. But M&R Development LLC has changed the design several times and lowered the height until now it will only be 91 feet at its highest point. The size of the hotel and number of rooms has also been downsized as much as the developer claims it can be and still be economically feasible.

It will be some time yet before actual construction on Addison Park on Clark would begin if it does get complete city approval. In the meantime, there are plenty of other Chicago homes for sale if you are shopping for a new condo right now.

[tags]Addison Park on Clark, Chicago Condos, Chicago Real Estate[/tags]

This entry was posted on Tuesday, June 29th, 2010 at 12:05 am and is filed under Market Update.