Draper and Kramer Kicks Off Chicago Project
- Aug 14, 2020
Draper and Kramer Inc. has broken ground on a seven-story development in Chicago’s East Lakeview neighborhood, a few blocks north of Wrigley Field. Plans call for 120 units above 13,000 square feet of retail space, with delivery slated for August 2021.
Gershman Mortgage provided project financing through the Department of Housing and Urban Development’s Chicago regional office. Leopardo Construction is the general contractor for the Sullivan, Goulette & Wilson Architects-designed development.
The project is located at 949 W. Dakin St. and will offer views of Lake Michigan and Wrigley Field, as well as a number of outdoor residential amenities including grilling stations, dining tables, a TV viewing area and fire pits. The development’s interior will feature a private clubroom, fitness center and heated bike room. Unit floorplans will range from 620 to 1,040 square feet. Eight of the apartments will be designated as affordable units, according to a notice filed with Cook County.
Draper and Kramer have signed Ace Hardware to occupy part of the ground-floor retail component. The store operated out of a former building on the project site. The developer also intends to bring a coffee shop and two other tenants to the remaining space.
In December, Draper and Kramer acquired HUBBARD221, a nearly 200-unit River North community. The firm purchased the luxury asset through a 1031 exchange.