Ace on Ashland Condo Project Back on Track; Construction Permits Issued

Posted by Helaine Cohen on Tuesday, February 28th, 2017 at 1:51pm.

After what seems like forever, it appears development for a new 33-unit condo development in Chicago’s Noble Square neighborhood is set to resume after a construction permit was just issued earlier this month. 

Designed by Hanna Architects, the new transit-oriented development is only steps from the busy Division Street Blue Line station, not to mention all the shopping, dining, entertainment, and nightlife over in nearby Bucktown and Wicker Park. 

The project, which is being called Ace on Ashland due to its location where an Ace Hardware store was previously located before being demolished, will also include 25 parking spaces in addition to its 33 condo residences, which is slightly more than the 17 spaces that were initially proposed. Ground level retail space will also be part of the project, which could include anything from a gym or cafe to even a small grocery store. 

As of now, one-bedroom condos at Ace on Ashland are expected to have at least 720 square feet, while larger three bedrooms will feature up to 1,280 square feet of total living space. 

The developer, Gary Mikhaylov of GNP Development, originally purchased the property back in 2014 for $1.75 million. 

Helaine Cohen, Chicago Real Estate Broker

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