Meeting Set For January On Updated Plan For Luxury Residential Development At East Lakeview Treasure Island Site
CHICAGO (CBS) -- Ald. Tom Tunney (44th) will be hosting a meeting next month on a revised proposal for a new residential development on the site of the old Treasure Island store in East Lakeview.
The meeting is set for 6:30 p.m. Tuesday, Jan. 14 at Bettie Port Hall at Temple Sholom, 3480 N. Lake Shore Dr. Tunney's office said the updated plans will be posted on the 44th Ward website afterward.
Back in July, the developer Optima released plans for an eight-story luxury rental building on the site of the shuttered grocery store and its large parking lot at 3460 N. Broadway.
Optima representatives said at a community meeting at the time said the development would add 246 rental units ranging in size from "efficiency" to three bedrooms, for a proposed average monthly rent of $3,300.
The development would also include 107 fully-enclosed parking spaces near the back of the site. It would eliminate three of the four curb cuts on Broadway that are now used for entering and exiting the parking lot for the former Treasure Island, and would also add two new on-street parking spaces and a standing zone on the street in front of the development.
The development would be built up to the sidewalk, with a series of setbacks so as to create an "undulating façade," Optima said.
The developer said at the July meeting that it also hoped to bring in a "destination" restaurant for the ground floor of the development.
Tunney's office said the next possible hearing on the proposed development before the Chicago Plan Commission would be on Jan. 23, but the agenda for that meeting has not been released.
The development must win Plan Commission approval before it is heard by the City Council Zoning Committee and the full City Council.
The Treasure Island store building at the site has sat vacant since October 2018, when the entire company went out of business after 55 years in operation.
The Broadway store was the first to open in the local grocery chain, which was famously once described by Julia Child as "America's most European supermarket."
