Photo credit: Eckenhoff Saunders. Guest author: Adam Drakulic.
925 W Belmont is a proposed mixed-use ETOD near the Belmont CTA station in Lakeview and #22 Clark and #8 Halsted buses. It would provide 210 housing units, including 42 affordable units. Elevated Chicago asked Urban Environmentalists member Adam Drakulic to write about how the 925 W Belmont ETOD would benefit renters, businesses and the larger community in Lakeview. Read on to hear why Drakulic supports the project.
Lakeview is one of Chicago’s most popular but also most expensive neighborhoods. Due to insufficient supply, the neighborhood faces upward rent pressure. According to Zillow, the average rental price for a two-bedroom apartment in the 60657 zip code is $2,491, higher than the city’s median of $1,819 (as of September 3, 2024).
The neighborhood also has abundant transit connections. The Belmont-North Main station is regularly among the top 10 busiest CTA stations, with an average ridership of 6,400+ per weekday in April 2024.
The section of Belmont Avenue from Halsted Street to Ashland Avenue hosts many unique shops that make the neighborhood vibrant, but shop owners and workers face higher residential rents. Small businesses also face upward commercial rent pressure due to a need for more suitable storefront space and high demand. If checked, the neighborhood can retain the independent, locally owned stores that make it unique.
I have had several friends who have had to leave Lakeview because they could not afford rent. Some left to go to different neighborhoods, while some left the city entirely. Every time someone else left, they would say how much they loved the neighborhood, but they couldn’t justify the cost anymore. Some of my favorite stores, such as Sundae Stop on Belmont, closed due to these rising costs. Each person and business leaving due to cost is another neighbor, friend, and source of vibrancy that is no longer felt in the neighborhood.
Mavrek Development’s proposal at 925 W Belmont is a beacon of hope for Lakeview. This development promises to bring significant benefits to the community. The building’s design aims to create locally owned businesses without displacement, provide access to high-quality public transit, and promote sustainable practices. The proposal includes a building with 200 homes just 200 feet away from the ‘L’ station and close to three bus lines. Significantly, 30-40 of these homes will be affordable, increasing the neighborhood’s density and providing new housing options for lower-income residents. With higher density, stores will have more local customers to shop there, and renters will have more rental options. Increasing supply to meet demand will help keep prices stable or even decrease rent.
The development will also have 9,000 square feet of retail space, allowing small businesses to take advantage of modern infrastructure that will be significantly more efficient and environmentally friendly than currently available on site. The building will also have 200 bike parking spaces (including three spaces for cargo bikes), encouraging active transit.
In a neighborhood where about 40% of households have no vehicle and about 43% take transit, walk, or bike to work, Chicago must permit as many residents as possible to live near the Belmont station. The proposal at 925 W Belmont serves as a model for how inclusive development can help prevent the displacement of lower-income residents. If we continue to create more developments like, people will no longer have to choose between the neighborhood they love or leave their lives behind due to cost.
