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New Developments in Chicago Real Estate: Clybourn and Larrabee

Posted by Terri McAuley on Friday, May 25th, 2018 at 11:42am.

Clybourn and Larrabee Redevelopment

The much-anticipated Cabrini Green redevelopment plans have recently been unveiled, and they are truly something to get excited about. Despite the past history in the area, Clybourn Ave. and Larrabee St. will see a definite rejuvenation in the coming months and years thanks to the extensive plans in the works to create a space that will include significant residential, commercial, and green space. 

Laid out in three phases, Cabrini Green will soon become a sought-after community with approximately 2330-2830 new units on almost 50 acres of space. This is a definite contrast to the area’s former towers, which held upwards of 3,600 units before it’s demolition. 

Continue reading to discover more about the Cabrini Green development and its place in Chicago real estate: 

The Building 

The project will be broken into three major phases, the first phase, set to begin now through 2019 will include a 21-story tower with high-density residential living space on Clybourn St. A lower-density project will also pop up at Larrabee St. Up to 1270 units are expected to be delivered; in addition to significant retail space that is sure to rejuvenate the area. 

Both condos and rental apartments will be available in the area, although, at the moment, the exact mix between private homes and rentals is not yet known. 

Each phase of the project will be bid on by different developers, which will hopefully speed the process and add a fresh take to each phase. The Clybourn and Larrabee phase is being lead by the Texas-based developers at Hunt Development Group. Hunt is also collaborating with local organizations like the Chicago-based Imagine Group in addition to The Chicago Neighborhood Initiatives. The building itself will feature a glassy façade with modern and stylish features. 

The Units 

At this time, not much is known about the interior of the project, however, buyers and renters alike can expect clean, modern, efficient units ideal for today’s family, professional, or retiree. There will be extensive choice for residents between the current high-rise development and the slates row homes, and low-rise options. All phases are expected to be delivered by 2025. 

The Area 

Cabrini Green is a once-notorious neighborhood in Chicago that has since seen significant redevelopment in the past five years. With local developments cropping up all around, it was only a matter of time before the Cabrini Green redevelopment took shape. New developments like the nearby New City tower is creating space for the property values in the area to go up. This specific project has been in the works since 2011 and residents can expect a lot from developers and community managers in the coming years. 

Thanks to the success of the local Target, Cabrini Green developers have a plan for 36,000 square feet of retail space in the works, which will provide significant convenience to the local community. In addition to the exceptional retail moving in, residents will also be able to enjoy an extensive network of parks, walking paths, and green space in the area. 

With the new development, the area aims to be a family-friendly space. In addition to the playgrounds and parks, Cabrini Green is close to several schools including: 

  • The Jenner Academy for the Arts (Kindergarten to Grade 8)
  • Lincoln Park High School
  • Wells Community Academy High School 

The current project slated for development will sit at Clybourn and Larrabee, this tower will act as an anchor in the community, not only providing the highest density living, but also be visually striking, setting the tone for the entire new community. 

With close proximity to public transit as well as bike lines, residents in the area will enjoy easy commutes and amenities within close range. Nearby, you will find numerous restaurants, a variety of grocery stores, and the previously mentioned Target store, which offers extreme convenience for the locals. 

Cabrini Green is also close to other fantastic Chicago real estate and neighborhoods like Old Town, Goose Island, the trendy River North, and more. To learn more about the Cabrini Green redevelopment and the latest happenings in Chicago real estate, contact Terri McAuley at 312-330-3211. Our real estate experts can show you everything that’s currently on offer and also what you can expect from the future in Chicago.

 

By:  Terri McAuley

Chicago Condos for Sale

Cell: 312-330-3211
Website:
www.WeKnowChicagoRealEstate.com

“Chicago’s Luxury Condo Specialist”

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