On November 19th, Alderwoman Hadden and the 49th Ward Office hosted a community meeting regarding a proposed development for the property located at 7644 N. Sheridan. You can watch a recording of the community meeting here. To view the presentation slides, please click here.

The developer, 5T does not require a zoning change in order to build, but the property is within the Lakefront Protection Zone and they will need to meet guidelines around environmental preservation. Also, because the property involved has been defunct for some time and the current owners have been the subject of lawsuits and multiple building code violations, Alderwoman Hadden wanted to engage the community outside of her usual process to make sure that the new development may be improved and that the new owner can build a better relationship with our community.

The applicant, 5T Management, plans to build a five-story, mixed-use building containing 44 residential units and ground-floor commercial space. The unit breakdown includes 4 one-bedroom units, 28 two-bedroom units, and 12 three-bedroom units. All units will remain affordable, with three units set aside for households earning 30% of the Area Median Income (AMI), twenty-four set aside for households earning 60% AMI, and the remaining (seventeen units) for households earning 80% AMI. 5T plans to use Low Income Housing Tax Credits (LIHTC) issued by the Department of Housing to finance the building, locking in its affordability for a minimum of 30 years. 

Our survey findings demonstrated strong community support for the development, as well as for more housing throughout the neighborhood, especially affordable options and will have the support of the Alderwoman as they apply for their financial support with the city.

Neighbors expressed parking concerns, hesitation towards more affordable units near Howard St, and some respondents were against the modern design of the proposal. You can see the results of the presentation here. We have shared the feedback with the developer as well and look forward to working with them to address the biggest issues as they proceed with the support of Alderwoman Hadden in their project.

If you have any questions or concerns, please reach out to our Infrastructure and Communications Coordinator, Zach Joseph, at zach@49thward.org, or call our office at 773-338-5796.