Kargil Development Plans Two Apartment Projects For West Side

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July 24, 2008 - The West Side is going to see a boost in the number of apartment towers located there. Chicago real estate developer Keith Giles of Kargil Development and X/O fame is planning on constructing two different projects, with one scheduled to begin the first part of 2009. When both projects are completed, it will add a total of 625 new apartments to the area, according to Crain’s.

The first of the two projects also happens to be the smaller of the pair. A twelve story tower with 225 units and 12,000 square feet of retail space will go up on the corner of Blue Island Avenue and 15th Street. Kargil purchased the parcel about a year ago and even managed to get the Plan Commission to rezone the property from residential to industrial last year, so it looks as though the project has a head start already. FitzGerald Associates Architects designed the building for Kargil Development and the estimated cost of the project is roughly $70 million.

The second project is a little more up in the air with no firm plans announced yet except that it will contain around 400 apartments and be located on the southeast corner of Blue Island Avenue and 15th Street. Some speculate that the site would be ideal for student housing since it is so close to the U of I Chicago campus. Right now the main facility of Testa Produce is there, but the article states that they plan to relocate to the Stockyards Industrial Corridor sometime next year, so nothing will be done with the site before then.

As for X/O, the once mentioned May groundbreaking date has come and gone with no real activity. The name X/O was taken from the phrase extra ordinary, and with sales being rather slow you could say it’s taking an extra ordinary length of time for marketing this Chicago condo project. This could be one reason why Kargil’s next two towers are going to be Chicago Apartments.

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