|The facade of 5050 N. Broadway is being removed|
as we speak. (MW)
Thanks to reader MW for sending us this photo of the former Combined Insurance/Aon Building at 5050 North Broadway, now in the early phases of being redeveloped as part of a massive two-block-long project. The 12-story main tower building will get new windows and a gut rehab, as will the attached 6-story building at 5060 Broadway. Eventually the two will contain 342 apartments and street-level retail space.
According to Ald. Osterman, a three-month demolition period will be required.
Phase II of the project will bring the construction of two new seven-story buildings across the street, at 5063 and 5083 North Broadway, for a total of 710 new apartments and 45,000sf of retail space. 15% of the new apartments will fall into the affordable housing category.
The existing six-story parking garage at 5051 North Broadway will remain. This project will be a gamechanger for the section of Broadway between Winona and Winnemac, just half a block north of the Argyle business district.
The 5050 & 5060 buildings are located in Ald. Pawar's 47th Ward, and the 5063 & 5083 buildings will be located in Ald. Osterman's 48th Ward.
A look at the plans and renderings is here.