The Phoenix Rises: New 10-Story Development Receives Key Approval in Lake View East

By Socialhood News · Il/Chicago/Lake View · December 3, 2025

Lake View East residents will soon see a major transformation on North Halsted Street as 'The Phoenix,' a new 10-story mixed-use development, moves forward after receiving crucial backing from Alderwoman Clay. The project, which will replace a vacant lot just north of the intersection with West Addison Street, is expected to cost around $65 million to complete and now advances to the next approval stages with the plan commission and city council. If all goes according to schedule, groundbreaking could begin next year with completion targeted for 2027.

Dubbed 'The Phoenix' because the site previously housed Phoenix Electrical Manufacturing, the development will bring 188 apartments to Lake View, including 38 affordable units at a weighted average of 60% of the area median income. Designed by Studio Dwell Architects, the building will include ground-floor retail with a planned café, two floors of parking with 77 spaces, and a variety of studio, one- and two-bedroom apartments. The penthouse level will feature community amenities including a lounge, fitness room, and terrace, enhancing quality of life for future residents.

This project aligns perfectly with Lake View's recently unveiled community plan that prioritizes increased housing near transit while maintaining neighborhood character. Residents interested in learning more about The Phoenix or other developments in the area can attend upcoming community meetings or visit the Lake View East Chamber of Commerce website for the latest updates on this exciting addition to the neighborhood.

Sources:
1. https://chicagoyimby.com/2025/11/the-phoenix-moves-forward-with-alderwoman-approval-in-lake-view-east.html
2. https://chicago.suntimes.com/real-estate/2025/10/30/developer-dlg-pitches-10story-apartment-building-lake-view