A pair of century-old industrial buildings along the Milwaukee and Western avenues corridor in Bucktown would add 11 new apartments, as well as possible new bars and restaurants to the changing area, under a proposal that would need city approval.
The buildings, at 1912 N. Milwaukee Ave. and 1914 N. Milwaukee Ave., were built in 1907 and 1910 respectively, according to owner Chris Ilekis, a principal with Downtown real estate development firm Vequity.
Provided a rezoning request gets the city’s OK, Ilekis says Vequity hopes to start construction this fall and deliver the one- and two-bedroom apartments, ranging in size from 500 to 1,200 square feet, by next spring.
A venture headed by Ilekis bought the 1912 N. Milwaukee Ave. building for $437,000 in April of 2016, and the 1914 N. Milwaukee building for $1.35 million on May 11, county records show. Ilekis said Tuesday that both buildings “will be constructed and marketed separately.”
The two-story, 1912 N. Milwaukee Ave. site will offer 2,200 square-foot of retail for a possible bar or restaurant and two apartments above it, while the three-story 1914 N. Milwaukee Ave. building will offer 4,400 square feet of retail with nine apartments above it, located “in former artist lofts with tin ceilings and expansive ceiling heights” plus outdoor balconies for some of the residences, Ilekis said.
Both buildings have been vacant for years and will be completely renovated and “taken down to the shell with all new utilities and interiors,” Ilekis said, adding that the facades of both buildings “will be restored and improved to preserve the character of both buildings.” 11 Apartments Pitched For Pair of Century-Old Bucktown Industrial Buildings – Bucktown – DNAinfo Chicago