Chicago new project

New development takes a bite from Roosevelt Square

By Susan S. Stevens

A housing development that will be composed of all market-rate condos and lofts will snuggle into the southern section of the mixed-income development known as Roosevelt Square.

The Chicago Plan Commission approved the project at 1433 W. 15th St. on July 30. The land was rezoned and removed from the Roosevelt Square development plan.

The sale of 1.8 acres of privately owned land to developer Lipe Property Co., a half block that includes a warehouse, slightly reduces the footprint of Roosevelt Square’s Phase 6, which is being developed by Related Midwest.

The land apparently was part of the Roosevelt Square development plan in the first place because of a mistake, said Ald. Robert Fioretti (2nd), who said he spent 40 to 50 hours reviewing the situation to try to “get everything straight. There was a never any intention to acquire this” for Roosevelt Square, Fioretti said. “It was a mistake by the original planners. It was just wrong. Nobody knows the answer of why it was included."

Connie Buscemi, spokesperson for the Chicago Department of Planning and Development, said the property was transferred from the Roosevelt Square planned development (PD) to a new PD because of the warehouse. “It just made more sense to planning to establish its own PD,” she said.

Brian Zises, communications director of the Chicago Housing Authority (CHA), agreed the parcel was in the original PD even though “it was never owned by the CHA or the City. I believe it was always a privately owned parcel,” Zises said. “The private developer sold it well within his rights.”

Known as Maduro, the development will offer 108 lofts and 92 condos. Workers will rehab an existing five-story warehouse for loft condominiums and build a six or seven story condo building on vacant property east of the warehouse. Prices will begin in the $190,000s, said a spokesperson for Lipe Property Co., which will develop the project through Loomis Laflin Lofts LLC.