Catapult Real Estate Solutions is making strides with a planned multifamily project at the site of the Holiday Club lounge and bar in Uptown.
The local firm aims to replace the apartments and retail at the northwest corner of Sheridan and Irving Park roads, with a seven-story apartment building, Block Club reported.
The project is slated for 91 units, comprising 11 studios, 46 one-bedrooms and 34 two-bedrooms. It will also include 2,000 square feet of retail, 38 parking spaces, a second-floor green space and a courtyard.
Catapult is facing some resistance from neighbors concerned about the fate of the Holiday Club and other businesses on site, largely because the existing building has 5,000 to 6,000 square feet of retail space, more than double that of the proposed building.
Catapult is “happy to talk to [the Holiday Club] if they’re interested in the space we have,” founder Paul Dincin told the outlet. However, he also acknowledged that the bar’s return might be unfeasible given the size of the space and the lengthy construction timeline.
Current leases will be honored, but new leases will depend on the demolition and construction schedule. The other businesses in question include El Palmar restaurant and Roots Smoke & Vapor Shop
While not required to include affordable housing, since a zoning change is not required, Catapult is open to exploring options through the Chicago Low-Income Housing Trust Fund. Otherwise, apartments will be market-rate, with studios priced at about $1,700, one-bedrooms at $1,900 and two-bedrooms at $2,500.
The development is a by-right project, allowing Catapult to bypass zoning hurdles and an arduous aldermanic approval process. However, the developers need city approval to reduce parking requirements due to public transportation proximity, decrease truck loading zones and include residential uses on the first floor.
If permits are obtained and demolition proceeds as planned, construction is expected to begin in 2026.
—Quinn Donoghue
Read more
Development
Chicago
Valdir Barion forges ahead with Edison Park apartments amid objections
Residential
Chicago
CityPads nets key green light for $40M Near North Side apartments
Development
Chicago
Big developments from heavy hitters greenlit for 1,500 apartments