The stretch of North Sheffield Avenue between Belmont and Wellington is transforming before our eyes. Within the next couple of years there will be 120 new condos on two blocks, bringing many new residents and giving the neighborhood a very different feel.
Among the developments are The Residences at The Vic, 48 new midrise condos planned for the 3100-block of Sheffield (see construction photo). Right next door is The Lofts at the Vic, which we told you about earlier this week. Down on the 3000-block, five eight-flat developments are also underway (see photo at jump).
The road, which is already fairly hectic for a residential street, is only going to get busier and while parking will likely become more difficult, developer Joseph Freed Homes at The Residences will be providing 115 new parking spaces for use by the general public on top of the 200 parking spaces dedicated to homeowners at The Residences.
There’s talk among developers of installing a couple more retail businesses along that stretch of Sheffield, which is primarily a residential area. Business ideas floated include an upscale spa and another sandwich shop.
We had a chat to local Ald. Tom Tunney (44th ward) about Sheffield’s future. Tunney says he doesn’t want any more bars or restaurants to take up residence in that area of Sheffield because it is residential and neighbors want to preserve some peace and quiet, but he wants to see more retail options develop on that stretch of Belmont Avenue.
Even though the behemoth Bank of America moved in at Sheffield and Belmont last year, and banks are currently duking it out for turf and market supremacy across Chicago, Tunney says he thinks only some of the financial institutions will survive and other retailers will get a chance to move back in over the next few years.