Atrium Village Redevelopment Updates
If you happen to live in Old Town, you’ve probably noticed the big, red crane at the corner of Division and Wells Street. The old, brown-brick three-flat cluster at Atrium Village was demolished some time last year, and new construction has already risen above the steady mid-rise building at 300 W. Hill St. The original design of the late 1970’s intended for a mixed-income development—one of the first in the city of Chicago. After several meetings with Onni Group, (who is spearheading the project) many current residents remain uncertain if that goal should remain.
Below is an image of the proposed total redevelopment of Atrium Village, once the several phases have been completed. We’re expecting four high rises, town homes, a mid-rise complex, a grocer, and other retail stores to comprise the redevelopment. Currently, the project is at Phase 1, which would be a high rise building nearly 40-stories tall.
As a part of the agreement, leasing is expected to begin with current residents of the Atrium Village Mid-rise building, then to those that were displaced by the demolition of the 1100 and 200 clusters. Afterwards, the remaining apartments will be open to the public.
Expect market rates comparable to the surrounding neighborhoods, which is cluttered by the epic Gold Coast, Old Town, and River North. With shopping, dining, entertainment, parks and recreation readily accessible, this location in Chicago has always been prime real estate. The new development is expected to provide 1500 living units.