BlitzLake Capital Partners plans to build a retail-and-apartment building as tall as 12 stories at the intersection of Clark Street and Belmont Avenue, according to ChicagoRealEstateDaily.com.
The Chicago-based firm paid $5.5 million for the 23,000 square feet of retail and mixed-use buildings at 850-856 W. Belmont Ave. and 3200-3226 N. Clark St., which includes a Dunkin’ Donuts and lingerie shop Taboo Tabou. The developers reportedly plan to tear down the existing businesses for an eight-to-12-story building that would include two retail levels, two floors of parking and several stories of apartments.
The flagship Alley store at 3228 N. Clark St. is not part of BlitzLake’s acquisition and will remain at its location. Construction will reportedly begin this fall.