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Major Renovation Planned for Wicker Park's Milwaukee Avenue

 - Centrum Partners plans to renovate this building. Photo from CoStar Group Inc.Photo credit: Chicago Real Estate Daily

Wicker Park- January 13, 2013 Well this certainly is the best news we've heard all week. The West Town Shopping Center (home of The Bar Method, Oberweiss, Payless, Radio Shack and others) may just be getting a much-needed makeover. According to Chicago Real Estate Daily, plans are being discussed to renovate the former Wieboldt Department store building at 1272 N. Milwaukee Avenue.

 

According this week's report:

Centrum Partners LLC acquired the building in a $33 million dollar acquisition in December 2011. The Chicago-based developer plans to strip paint from the exterior of the former department store, repair and repaint the structure's terra cotta ornamentation and remove metal and synthetic cladding along the base of the structure.

 

Centrum also acquired the space currently leased to K-Mart and Jewel-Osco which includes 674 parking spaces.

Because the former Wieboldt's building is located in the historic landmark district, their plans must be approved by Chicago Landmarks. The plans were being presented on January 10, 2013.

 

This stretch of Milwaukee Avenue has struggled with its acquisition of commercial tenants because of its rundown appearance. The renovation is planned to change that. It is also planned to increase the rents in that location.

 

 

 

Milwaukee Avenue facing North towards Paulina in 1935. Photo credit CTA via wbez.org. You can see the evolution of Milwaukee Avenue here.

 

 

 

 

 

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