May 5, 2017
Los Angeles-based CIM Group formed a joint venture with a pair of Chicago-based firms, Golub & Company and Avoda Group, to acquire a half-acre site on Chicago’s Near North Side envisioned for development as a luxury residential building. The property is located at Clark Street and North Avenue, along Lincoln Park.
Golub & Company’s Michael Newman said, “There are very few sites on the Near North Side with immediate access to Lincoln Park and valuable protected views both of the Park and the lakefront, two irreplaceable neighborhood amenities.” Views are protected in all directions by the partnership’s ownership of adjacent air-rights, and by neighboring low-rise historic buildings.
Conditional approvals were granted previously for a 10-story, 33-unit luxury condominium project on the site. The CIM/Golub/Avoda team plans to unveil a new design this summer, with updated floor plans, finishes and amenities within the existing development program approvals.
For comments, questions or concerns, please contact Dennis Kaiser