Uptown Update, a blog dedicated to news and commentary from the 46th Ward, published a nice check-in on the Theater District Lofts’ second phase, which is still moving forward at 4750 N Winthrop Ave. The project has stagnated considerably since Yo wrote about it back in 2006.
According to the post, developer Jim Gouskos has closed on the purchase of the parking lot across the street from the Aragon Ballroom (the titular “theater” in the project’s name) and decently close to the Riviera and Uptown theaters. But it’s a high-rise concept, as evidenced by the snazzy renderings, and that’s sure to rankle neighbors in dense Uptown.
Despite the lengthy development cycle, Gouskos has remained active in Uptown’s theater district. An article in Crain’s today describes a second venture between Gouskos and the owner of the Aragon to purchase a vacant tract at 1063 W Lawrence Ave and build a mixed-use cinema and parking complex on the site.
If everything comes together, this latest element of the project will likely bring a strong mixed-use core to what would otherwise have been just another high-rise in Uptown.
Theater District Lofts’ Web site shows just a handful of unsold units remaining in the 21-story high-rise.