92-Unit Apartment Building Proposed Near Wrigley Field as Developers Target Lakeview’s Rental Demand

A former glass warehouse just steps from Chicago’s iconic Wrigley Field may soon be transformed into a new residential hub, as developers look to meet the surging demand for rentals in the Lakeview neighborhood.

Real estate firms North Park Ventures and SNS Realty Group are teaming up on a proposal to redevelop the vacant Torstenson Glass facility at 3233–47 N. Sheffield Avenue into a five-story, 92-unit apartment building, according to a recent newsletter from 44th Ward Ald. Bennett Lawson.

If approved, the project would bring a mix of 51 two-bedroom units and 41 one-bedroom units to the neighborhood, along with 25 parking spaces. In line with Chicago’s affordable housing requirements, 15% of the units (14 total) will be offered at below-market rents.

Another Mid-Rise Joins Lakeview’s Development Pipeline

This proposal adds to a growing list of mid-rise residential developments in the Lakeview area, as developers race to add supply in a high-demand rental market. Other notable nearby projects include the planned residential conversions of the Stage 773 and Briar Street Theater sites, as well as a 46-unit building at 925 W. Belmont Avenue.

The renewed interest in rental projects comes amid rising interest rates and high construction costs, which have slowed the pace of new housing delivery across Chicago. The Lakeview area, in particular, remains a hotbed for renters seeking proximity to transit, nightlife, and cultural amenities.

Community Input and Project Timeline Still in Progress

While a zoning change is still required for the project to move forward, Ald. Lawson has invited community feedback before any decisions are made. No official timeline or budget details have been released, and representatives from North Park Ventures and SNS Realty Group have not yet commented publicly on the proposal.

The development site—formerly home to the Torstenson Glass Company, which recently relocated its headquarters to Morton Grove—has been marketed by CBRE broker Tom Svoboda. Torstenson Glass, founded more than 130 years ago, had long been a fixture in the neighborhood.

About the Developers

North Park Ventures is a private equity firm with a national portfolio of multifamily and commercial properties, including assets in Chicago, Miami, and Minneapolis.

SNS Realty Group, based in Chicago, has been developing both single-family homes and multifamily projectsthroughout the region since the mid-1990s.