Courtesy: Danny Ecker | News Source: chicagobusiness.com
A venture led by developers Robert Buono and Paul Utigard plan to redevelop the property at 1035-1065 N. Orleans St. into an eight-story hotel, according to a zoning application filed with the city.
The project would entail adding six stories onto a vacant two-story building at the corner of Orleans and Hill Street that used to serve as the Immaculate Conception St. Joseph School and turning a gymnasium on site into a 450-person event space, according to the application. The property, which is along elevated CTA tracks just west of Walter Payton College Prep High School, would also include four apartments and no parking, an allowance the developers hope to win from the city because of its proximity to public transportation.
Buono and Utigard have been especially active in the multifamily sector. A venture led by Buono, principal of Chicago-based Henry Street Partners, led the development of the MiCa apartment towers in Logan Square and another apartment building at 1611 W. Division St. next to the CTA Division Blue Line station.
But others involved in the Orleans Street project have more of a hospitality background. Investors include Robert Baum and Mike Downing of Chicago-based Bedderman Lodging, which have opened boutique hotels in Wrigleyville and a few blocks south of the Orleans Street site.