Developers pitching 28-story apartment tower in Lake View

Three Chicago companies are proposing a 28-story apartment tower that would transform the bustling corner at North Sheridan Road and West Diversey Parkway.

Antunovich Associates, Continuum Development and Chicago Development Partners presented plans for redeveloping the vacant Ida and Norman Stone Medical Building at 2800 N. Sheridan Road, during a virtual community meeting Wednesday night.

“I think it is obvious to the neighborhood that it's just such a … critical gateway location between Lincoln Park — both the neighborhood as well as the park itself — and the Lake View community,” Patrick Cusack, principal at Antunovich Associates, said. “What we were hoping to do was bring something a little bit new into Lake View. This is meant to be a very, very high-quality residential building and really speak to the quality of the neighborhood, and just bring some activity to this corner that, unfortunately, was just not well activated with the medical office building.”

Demolition of the Lake View building is already underway and should be complete by the end of the year, according to the development team.

The building will have 345 apartments, including 69 affordable units for households earning between $50,000 and $70,000 annually, as mandated under the city’s Affordable Requirements Ordinance.

The apartments will include a mix of studios, convertibles and one- to three-bedrooms, with some units also having a den. The apartments will range from 500 square feet for a studio up to about 1,600 square feet for a three-bedroom.

Monthly rent for studios will start at $2,700. A three-bedroom, depending on the size, could rent between $8,000 to $10,000, Continuum Development co-founder Evan Meador said.

Provided by Antunovich Associates

The building will also be anchored by a 50,000-square-foot premier fitness club, with a pool and roof deck where classes will take place during the summer. The development team said it secured a fitness club for the space but declined to say who.

An additional 10,000 square feet of retail and commercial space is planned. The development team said it originally explored anchoring the building with a grocer — but the tight alleyways and traffic congestion at the intersection didn’t make it feasible. Instead, they're exploring a boutique market concept for the retail space, Meador said.

There will also be a pool deck for residents, 275 parking spaces and 345 bike spaces. Parking is intended for residents and fitness club members, according to the development team.

The project has been a long time in the making. The developers held their first community meeting with South East Lake View Neighbors on Nov. 10, 2025. SELVN will vote on Monday whether to support the development.

Several neighbors at Wednesday's meeting praised the development team for building more housing at a time when Chicagoans desperately need it. A few asked about the building’s size, which the developers said is in scale with nearby high-rises that frame Diversey Harbor. For example, the buildings at 340 and 330 W. Diversey Parkway are 27 stories tall and 2650 N. Lakeview Ave. is 44 floors.

“We recognize this is a prominent Lake View site, and a project of this scale needs to respond very thoughtfully to its surroundings,” Cusack said.