Real Estate

Developer Proposes New Plan at Former Sappano's Paint Building

The building has been vacant since 2009, but now the owner says he's ready to move forward on new construction at the large vacant building on Halsted.

After being vacant since 2009, a Lake View developer says he plans to demolish the former Sappano's Paint & Wallpaper Co. building to construct a 4-story apartment complex.

Developer Tom Gibbons of Shepherd Real Estate Subsidiary LLC proposed the new plan for the massive vacant storefront at 2940 N. Halsted St. at Thursday’s Central Lake View Neighbors meeting.

He says he thinks it’s the best move for the neighborhood, especially because his family has been a part of Lake View for 30 years.

Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.

“My father started the real estate business approximately 30 years ago, and I’ve been working with them for 17 years,” Gibbons said. “I also live in central Lake View, so we’re deeply rooted in the neighborhood.

“We were here before the neighborhood was trendy,” he laughed. “So we’re not Johnny-come-latlies. We think our project is going to be a great addition to the community.”

Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.

Gibbons’ architect Brian Milbury explained they’re looking to change the lot’s zoning from a commercial space to all residential. The new brick building would have 25 rental units and no commercial tenants.

Join Lake View Patch for more neighborhood news and follow us on Facebook and Twitter!

The two-floor units would be roughly 1,100-square-feet each, include 25 parking spaces. Each unit would have an outdoor space like a balcony or a patio, and none of them are slated to be condos when introduced to the market. They could, however, become condos at some point if Chicago’s market changes.

Some residents at Thursday’s meeting expressed a disinterest in changing the zoning to allow for more residential units on Halsted, but Gibbons said he’s been doing an exhaustive search for a commercial tenant since 2009 to no avail.

Gibbons and Milbury will have to attend next month’s CLVN meeting for a potential vote to approve the new development. 


Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.

We’ve removed the ability to reply as we work to make improvements. Learn more here