The commercial center at the southeast corner of 95th and Western Avenue will be redeveloped into a $7 million reconfiguration project starting this year. Under this plan, the now vacant building at 2347-2353 W. 95th St. will be demolished. The existing building, vacant since the departure of Potbelly Sandwich Works, will be a smaller, newly constructed commercial building that will house a mix of new and existing tenants including a dental clinic, an upscale salon, and other health related users.
Following the demolition of the corner building, the parking lot will be reconfigured allowing for 18 additional spaces as well as a new access point from 95th Street. This construction is expected to create approximately 40 jobs.
The development is currently leased at near capacity. Secured tenants include Addus Healthcare, Aspen Dental, AT&T and Sola Salon with two small retail spaces currently available. A letter of intent is currently signed with a sandwich shop for one of the two available locations.
“The modifications that will be made to the existing building on the corner of 95th and Western will help to ensure an easier access to the businesses located within the development, as well as the addition of much-needed parking spaces,” said 19th Ward Ald. Matt O’Shea. “It will also bring in well-recognized businesses that have a strong existing customer base for our residents to enjoy. My office looks forward to working with the developer and the tenants to ensure their success moving forward.”
The project is expected to be completed in spring or sooner.
“The 95th Street Business Association is looking forward to the implementation of the new design for the building at 95th and Western,” said Erin Ross, president, 95th Street Business Association. “The changes will make this parcel an integral part of our business district on 95th Street.”
“We are happy to be able to reposition the asset in a strong retail corridor with nationally recognized tenants,” said Steve Panko of Key Development Partners. “This corner will always be desirable.”
For leasing information, contact Pam Miszkowicz or Lynn Bracket, CBRE, 630-573-7000. For more information on 95th Street development, contact the 19th Ward office, www.the19thward.com or 773.238.8766.
