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Chicago

MCZ, GW Properties capitalize on rental demand near the 606

The firms plan transit-oriented developments in Bucktown that overlook the popular trail

1750 North Western Avenue and 1741 North Western Avenue
1750 North Western Avenue and 1741 North Western Avenue

MCZ Development and GW Properties are looking to capitalize on the popularity of the 606 trail with a pair of transit-oriented developments next door.

MCZ this week secured a construction permit for its five-story, 25-unit building at 1741 North Western Avenue in Bucktown, down from the developer’s original proposal for 37 units, according to Crain’s.

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Across the street, GW Properties plans a 106-unit apartment building at 1750 North Western Avenue that includes a direct ramp from the second floor to the 606.

The 2.7-mile trail has proven popular since it opened on the Near Northwest Side in 2015. In addition to drawing crowds of bikers, runners and stroller-pushing families, the trail has led to surging home prices and rents in the neighborhoods it passes through. That has also raised gentrification fears from community groups and public officials. [Curbed] — John O’Brien

 

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ApartmentsBucktownCommercial Real EstateGW PropertiesLogan SquareMCZ Development