Abby Miller
Development Reporter
Housed in the historic Noel State Bank building, the store will be the bookseller’s fourth location in the Chicago area this year.
Proponents say widening the accessory dwelling unit program would combat the affordable housing shortage and add density to neighborhoods, but add that construction costs can rise quickly.
The NAR’s deadline to change its broker commission practices was expected to happen in July.
The nonprofit said it was unable to reach lease terms with its prospective landlord, Illinois video gambling mogul Rick Heidner.
The owners plan to demolish three century-old buildings to make way for new apartments with rooftop pickleball courts and parking.
The building, according to the Chicago Urban League, is one of the most significant donations in its history and will help bolster its entrepreneurship and workforce development training.
Plans to add housing in the downtown corridor will help reinvigorate the district, architects and developers said, but there are still construction challenges with turning office spaces into residential units.
The company’s subchapter v filing, which is under Chapter 11, comes after the business marked its 30-year anniversary in 2023.
Sterling Bay’s Lincoln Park project has drawn criticism from local Ald. Scott Waguespack for its height and parking but it still cleared the Chicago Plan Commission on Thursday.