Centrum cancels Lofts at Lakeview Collection

Lofts at Lakeview Collection, 3126 N Ashland Ave

Not too long ago, a Yo reader used our tip line to request an update on three North Side loft projects. I’m still tracking down info on two of those developments, but I finally got someone to confirm that the Lofts at Lakeview Collection has bitten the dust.

The project’s former sales manager, Carrie McCormick, said today that the lofts are indeed dead. I’m still trying to reach Centrum Properties‘ Nick Stocking to find out when and why the company canceled the Hirsch Associates-designed mid-rise at the intersection of Belmont, Ashland and Lincoln avenues; I’ll let you know if I hear anything more about this decision.

Around 30 percent of the building’s 131 one- and two-bedroom condominiums had sold as of last July, and David Barton Gym was lined up to fill one of the building’s 14 retail spaces. Prices for the loft-style homes ranged from the $300s to the mid-$700s.

Centrum had planned to start construction in September 2007 by demolishing LaSalle Bank‘s Lake View branch at 3201 N Ashland Ave. Deliveries were supposed to begin in the summer of 2009.

As Kate Hawley wrote back in August, this part of Lake View has its fair share of stores, restaurants and other neighborhood amenities – what kept folks from buying at Centrum’s project? Were the prices unreasonable? Do people simply not want to live at the intersection of three arteries? Where did the Lofts at Lakeview Collection go wrong?

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