NEAR NORTH SIDE – A three-building mixed-income rental complex is now open on the Near North Side land that once housed the Isham YMCA.
The Schiller Place Apartments – at 711, 731 and 749 W. Schiller St. – opened last week. It consists of 48 apartments distributed in the three buildings.
The developers kicked off the project in February 2021.
Behind the complex is Structured Development, the firm behind NEWCITY, a 1 million square foot mixed-use development between Clybourn and Halsted Streets. The project is a joint venture with Evergreen Real Estate Group.
Schiller Place has 24 Chicago Housing Authority apartments, according to its developers. Thirteen are one- and two-bedroom units reserved for people earning 60% of area median income, five will be rented to 30% of area median income, and six units will be rented at uncapped market rates, they said. the developers.
The apartments have dishwashers and built-in washers and dryers. Each building has an entrance bell and an elevator. There are 18 parking spaces for all three buildings.
“The Schiller Place development holds the promise of helping bring more inclusive housing to Chicago’s Near North Side,” said Mike Drew, founder and principal of Structured Development. “We, like Ald. [Walter] Burnett and the City of Chicago want to ensure that the neighborhood’s longtime residents are not displaced by ongoing development. Schiller Place is a model for the kind of inclusive housing the city wants to promote, where people of all income levels can live together and benefit from the same community services.”
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