Retail, Residential Development Back On After 5-Year Delay (PHOTOS)

Plans to construct an eight-story glass tower at the corner of North Broadway and Diversey Parkway on the border between Lake View and Lincoln Park are back on after being put on hold in 2007, Ald. Tom Tunney’s (44th) office confirms.

Owners of the Lincoln Park Plaza apartments and retail space, formerly known Rienzi Plaza, say they plan to move forward with their original development plan.  It includes constructing 57 studio-sized units in an eight-story tower adjacent to their current apartment building at 600 W. Diversey Pkwy.

While representatives with the Lincoln Park Plaza refused to comment, Ald. Tunney’s Chief of Staff Bennett Lawson says owners will move forward with their plans once Walgreens, the building’s current tenant, gives them a date they plan to vacate the property.

According to Lawson, Walgreens was planning to be the retail tenant on the first floor of the new housing tower, but after it was put on hold, the retailer set its sights on the Borders Bookstore across the street. Construction on the new mega-Walgreens began in September.

"We have to have some sort of commercial presence there. It’s too busy of an intersection.”

Now, it’s unclear what will be the retail tenant in Lincoln Park Plaza’s resurrected plan.

“If you have a tenant for the space, you can design something a little more custom,” Lawson said. “It was supposed to be Walgreens until Walgreens decided to go with their other concept. Walgreens would have been out while they did it and then move back in to a larger space. So instead of waiting for that, they’re moving across the street (to the former Borders Bookstore). We have to have some sort of commercial presence there. It’s too busy of an intersection.”

Construction plans for the new tower at 2801 North Broadway Show the building to have an almost 2,400-quare foot terrace on the eighth floor, as well as additional parking added where current Lincoln Park Plaza residents park.

In addition, windows on the current building’s west side are already blocked in preparation for the new building’s construction. 

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