NEAR NORTH SIDE — A three-building, mixed-income rental complex is now open on 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 across the three buildings.
Developers broke ground on the project in February 2021.
Structured Development, the firm behind NEWCITY, a 1 million-square-foot, mixed-use development at Clybourn and Halsted streets, is behind the complex. 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 restricted to people making 60 percent of the area median income, five will be rented at 30 percent area median income and six units will be rented at unrestricted market rates, developers said.
Apartments have dishwashers and in-unit washers and dryers. Each building has a buzzer entrance and elevator. There are 18 parking spaces for all three buildings.
“The development of Schiller Place fulfills a promise to help bring more inclusionary housing to Chicago’s Near North Side,” said Mike Drew, founding principal of Structured Development. “We, like Ald. [Walter] Burnett and the city of Chicago, want to ensure longtime residents of the neighborhood are not displaced by ongoing development. Schiller Place is a model for the kind of inclusive housing that the city wants to promote, where people across income levels can live together and benefit from the same community amenities.”
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November 23, 2022 at 08:53AM