|Just Tires, 4809 N. Broadway (Google)|
Although details are still developing, we recently learned about an surprising real estate sale that may lead to the loss of a longtime Uptown business.
Just Tires, which has been just north of the intersection of Lawrence and Broadway for well over 20 years, appears ready to close as West Coast-based developer The Krausz Companies acquired the property for $4,200,000.
The zoning classification of the property, B3-5, was a likely driving factor in the sale of the lot, along with the central location in the middle of the entertainment district and across the street from the Uptown Theatre.
No proposal for redevelopment has been brought forward at this time, but it seems all but definite that Just Tires will close. We are working on digging up the plans for the lot and the adjacent lot, which is also headed to residential after completion of the CTA track and station rehab at Lawrence.
It is notable that the developer can build residential on the lot using the existing B3-5 zoning. If they do so, the city's affordable requirements will not be triggered. If a zoning change is requested, there will be a chance of affordable units on-site or an in-lieu contribution to the Low Income Housing Trust Fund.
Read more at REjournals.
UU Note: The stretch of Broadway that became the Just Tires property in question is visible in this 1932 Uptown aerial shot. The building on the right with the Aragon advertisement stands today and is home to Demera. The storage facility on the left still stands as well.
|CTA Aerial of Uptown, 1932|