26 August 2009 ? JDL Development Corp. won zoning approval from the Chicago Plan Commission for a 15-story, 250-unit apartment tower in Old Town located at 1223 N Wells St. What was initially planned as a four-story auto mall was squashed based on local resident?s concerns/complaints about increased traffic. All the hoop-la prompted Grossinger to scrap its plans about two years ago.
The dealership plans to move to 1500 N. Dayton St. (formerly a jukebox factory), near the North Ave/Clybourn intersection where Grossinger ultimately plans to build its auto mall ? with the help of an $8.5-million tax-increment financing subsidy from the city.
With one hurdle down, the matter still must go to the full City Council, but Chicago-based JDL faces what?s likely to be a bigger hurdle in trying to finance the project. Assuming all goes as planned and JDL closes on this property, the good news is that JDL President James Letchinger plans to restore and save the existing one-story building which has a beautiful terra cotta façade. Hopefully this news will please the Old Town residents.Email This Post To a Friend.