It’s been a little over three years since Chicago Public School announced that the Graeme Stewart School in Chicago’s Uptown neighborhood would close its doors forever. Now a real estate developer wants to open them again. This time as apartments.
The plan drawn up by Pappageorge Haymes is to carve 64 new homes out of the school that Morningside Equities bought for $5.1 million last autumn — a 14% premium on its appraised value. You may know Morningside from such suburban projects as Museum Square in Elmhurst, and the Oak Lawn Metra Station.
The new homes will range from about 860 square feet to over 1,600 square feet. At the time of the building’s sale, CPS promised the building would contain not only homes, but “retail and restaurant space, a community plaza and playground.” But the paperwork filed with the city specifically states “There is no commercial space.”
As part of the sale agreement, Morningside is required to maintain the building’s architectural character. It’s also required to seek city landmark status for the building.
- Morningside Stewart LLC
- Net site area: 64,206 square feet
- Height: 69 feet, four inches
- Residences: 64
- Floor Are Ratio: 1.2
- Parking: 28 spaces
- Bicycle parking: 25 spaces
- Green roof alert! 9,454 square feet