Apartments proposed for Uptown
A patch of land that has sat vacant for years will be converted into a 24-unit apartment building, if a Chicago developer gets his way.
John O’Flaherty, owner of O’Flaherty Builders Inc, presented his plan to the Chicago Department of Planning and Development.
The site of the new apartment is 4620 N. Clarendon, in Uptown. Renters will be able to choose from several floor plans in the four-story building.
One-bedroom apartments start at 635 square feet and two-bedroom units offer as much as 911 square feet of living space.
O’Flaherty plans to include a 2,000 square foot green roof, indoor parking, and energy efficient windows.
Developers have begun to focus on rental properties as sales around Chicago continue to drop. Most new developments currently underway are centered around the Loop and other popular downtown neighborhoods.
Rents are moving up around downtown, with estimates of 4-5 percent annually being tossed around by industry experts.
Some of the best Chicago Real Estate is now up for rent around the city. If you’re not interested in buying a condominium in Chicago, check out what’s available for rent, you may be surprised.
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