We have been watching the building at 4848 N. Clark with interest for years now.
The handsome but non-descript old warehouse & manufacturing building along Clark was built in 1936 just north of the now demolished Rainbo Gardens (later Rainbo Roller Rink). In a reflection of the changes to Uptown in the 1930's, the building had various automotive and light manufacturing tenants over the years and was most recently home to a couple of art studios.
The building has been on and off the market since at least 2008 with no buyers. The property recently sold, and we are happy to announce that Garner Development will be doing a project on site.
Garner has not yet responded to our inquiry about plans for the space, so we don't know if this is a tear down or conversion. They do nice work and we would expect something similar to the projects here.
The current 3-story building is currently around 12,000 square feet. It could be converted, but the property is zoned C2-2 in a reflection of the building's automotive and manufacturing history. The Floor Area Ratio (FAR) for the current site is 2.2, meaning Garner could build a building up to 24,200 square feet with a building height of 50 feet by right.
This is in the 47th Ward, so Alderman Martin will have the final say on any request to modify the current zoning.
Uptown remains hot, with a recent influx of new projects and housing developments along the 4400, 4500, 4600 and 4700 blocks of Clark (and more to come).
We are not surprised this property finally found a developer.
Chicago continues to need new housing stock, and we are very happy that this disused building and lot will transition to housing and add additional density to a portion of Uptown that needs more.
We're looking at you, Lincoln Towing.
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