The building’s exterior will complement the neighborhood’s historic architecture with a mix of masonry,
stone and glass. At the ground level, welcoming neighborhood restaurant and retail experiences will capture the small-town feel of this friendly community set in the heart of a bustling metropolis.
Boutique residences: 89 elegant, modern rental apartments will be ideal for professionals and families looking to put down roots in the Gold Coast neighborhood.
Mid-sized: At 12 stories and less than 135 feet tall, 1212 N. State will be shorter than most surrounding buildings, while remaining in line with the overall scale of surrounding buildings and celebrating the
eclectic feel of the neighborhood.
Parking: The building will include 32 fully enclosed garage parking spaces concealed behind the retail facade.
Sustainability: Nearly 8,000 square feet of planted roof space and sustainable design features will exceed the City of Chicago Green Initiative guidelines. More than 3,000 square feet of interior amenity space and 15,000 square feet of outdoor amenity space (including a partially covered private dog walk) will reduce the neighborhood impact of the property.
Safety: The current condition of the vacant properties at this location detract from the vibrancy and safety of the Gold Coast community. The presence of new, active retail space, residents, modern security infrastructure and on-site staff will enhance area safety.
Tax revenue: 1212 N. State is expected to generate more than $400,000 in additional local tax revenue.
Inclusive hiring: Newcastle is committed to hiring local minority- and women-owned businesses from the tremendous pool of diverse talent in the Chicago area.
Community improvement: By replacing 30,000 square feet of mostly vacant commercial space with 11,000 square feet of new restaurant and neighborhood retail uses, 1212 N. State will reinvigorate the Division Street corridor.
Neighborhood feel: The addition of a mid-sized building and space for approachable retail and restaurants will maintain the eclectic character of the streetscape.
Zoning: No zoning change is required for this project.
Timing: Demolition is expected to take place in the winter of 2019. Construction is anticipated to begin in the third quarter of 2021 and end by early-2022.
Planning: Close collaboration with the city will result in a construction staging plan that will minimize disruption.
Funding: Newcastle will receive no TIF funding or tax breaks for this property.
Newcastle Limited is a real estate investment firm that acquires, develops and owns urban retail and multifamily properties in Chicago’s most vibrant and popular neighborhoods. Over 20 years, Newcastle has built a track record of success and customer satisfaction as long-term owners and operators of buildings such as the State and Chestnut apartment property and as developers of successful neighborhood shopping corridors, including Clark Street in Andersonville, Milwaukee Avenue in Bucktown/Wicker Park, and Damen Avenue in Bucktown/Wicker Park.
ABOUT RESIDE LIVING
Reside Living is Newcastle Limited's cutting-edge owner and manager of residential properties in Chicago. Reside is committed to providing a memorable renting experience in the neighborhoods where our residents live.