Boutique Apartment Project Planned For Lake Shore Drive

Posted by Helaine Cohen on Wednesday, February 26th, 2020 at 8:34am.

The new owner of a heavily discounted site on Lake Shore Drive is planning to build new apartments on the property. JAB Real Estate recently purchased the site at 3726 N Lake Shore for just over $4 million.

That’s a steep discount from the $8.75 million the previous owner paid for the exact same site in 2016. It’s expected that work on the new 36-unit apartment building could begin sometime later this spring.

Current renderings show a red brick building with street-facing balconies. The building is reportedly being built to blend in with some of the neighborhood’s more historic architecture.

Future renters can also expect to find some ground-level parking. The new apartment building replaces an existing three-flat on the site. 

Previously aiming for 42 units, the developer scaled back to 36 apartments based on feedback from surrounding neighbors. Called the Erikson, the name is a nod to the property’s past. In the mid 1900s part of the nearby road was called Leif Erikson Drive. 

Helaine Cohen, Chicago Real Estate Broker

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