Developer lays plans for Moody Bible’s ‘excess’ property
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JDL Development plans to build on the area shaded purple. The Moody Bible Institute is retaining the area shaded yellow
We have Lincoln Yards on the North Side, The 78 on 62 yawning acres near Roosevelt and Clark, and the imagined thicket of high-rises next to Soldier Field in a development called One Central, an aspirational name for property more like One Off-the-Beaten Path, unless you are going to a Bears game. Someday, maybe.
To these we can add one more name for not quite a megaplan on the scale of the others but significant nonetheless and in a well-populated part of town. It’s North Union, the label bestowed by James Letchinger, founder and chief executive of JDL Development.
Letchinger said it refers to being on the Near North Side and situated to “unify” surrounding neighborhoods, such as River North and River West, the Gold Coast and Streeterville. It’s a long-term play; he figures his plan might take eight to 12 years to realize, but he’s eager to get started and raise the necessary capital. He intends to enliven blocks he views as under-utilized while also securing the next chapter for JDL.
He figures he’s several weeks from showing plans to community groups and, if all goes well, at least a year from starting any construction.
“We have the opportunity to build a community,” he said, insisting that doesn’t mean loading it down with high-rises. Letchinger said he will focus mostly on rental housing in keeping with the scale of the area but might go taller, such as 50 stories, later in the development. For that, he’s got his eye on that soccer field.
Source:
https://chicago.suntimes.com/2020/8/...xcess-property
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