Trendy redevelopment property up for grabs along Milwaukee Avenue could mean big changes – and dollars – in Avondale

Screen shot of Google Maps

According to Curbed Chicago, a large area between Milwaukee, Belmont and Pulaski Avenues in Avondale is currently listed for sale and possible redevelopment by Coldwell Banker Commercial.

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On the listing, Broker Lisa Gagliano notes there are various zoning laws in place for the nearly 4-acre plot of land, which includes industrial and commercial tenants, but further specified changes could be made.

The parcel of land totals over 164,000 square feet, but, while there are currently different entities on eight properties on the market, Gagliano told Curbed they were working toward one total sale of the site.

Another development in Wicker Park continuing up Milwaukee Avenue through Logan Square could be what spurred this similar project.

Unlike other projects and the surrounding properties, however, no new transit-oriented development (TOD) would be permitted at the available site.

The TOD ordinance allows developers to reduce the number of parking spots in a building. Normally buildings require a 1:1 parking-to-tenant ratio, but TOD allows a 1:2 parking-to-tenant ratio if the site is within a quarter mile of a CTA or Metra station.

Some buildings can be up to a half mile, if a street has a pedestrian designation, but development any further away from the the Belmont Blue Line station would not be eligible for valuable TOD.

As shown above, the parcel is on the Western edge of the neighborhood, which ranges all the way to the Chicago River to the East, Addison to the North and Diversey to the South.

Avondale is traditionally known to be home to a large Polish population, as well as a large Latino demographic since the 1980s.

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Curbed further wrote Avondale is one of the hottest condo markets in Chicago right now.

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