Chicago Avenue YMCA slated for redevelopment

Real estate developers have been sniffing around the Lawson House YMCA, 30 W Chicago Ave, for quite some time, scheming schemes to convert it to residential use.

Crain’s Chicago Real Estate Daily reported several days ago that the Y will be redeveloped as 450 units of affordable housing in a renovation that “could cost up to $100 million and may not start for another two years…”

The switchover would shutter the largest single-room occupancy facility in the Midwest, removing 583 units from the ever-dwindling SRO supply on Chicago’s north side. Rooms at the Y currently rent for as little as $410 a month.

COMMENTS

WORDPRESS: 1
  • Petruce 3 years

    Interesting considering that they sold that huge parking lot of theirs to Loyola not long ago. Believe they may also have some type of rofo on the building as well.