Nearly 300 New Apartments Coming to Lake View as Landmark Sheridan Road Building Gets Major Makeover

By Socialhood News · Il/Chicago/Lake View · February 22, 2026

Lake View's housing landscape is about to get a significant boost. Chicago-based Annenberg Investments has acquired the 14-story building at 3121 N. Sheridan Road — a former senior living community — and is transforming it into nearly 300 new rental units for the neighborhood.

The ambitious rehabilitation project will create 296 studio and one-bedroom apartments, with residents expected to move in later this year. Beyond just adding units, the development promises resort-style amenities rarely seen in older buildings, including a large fitness center, coworking space, and even a podcasting studio — all at rents that will come in well below new-construction properties. "It's not often that a building of this scale comes available in Lakeview," said partner Jarrett Annenberg, noting that the neighborhood is "one of the highest rent growth neighborhoods in the city." The project also carries a personal connection: while reviewing the building's history, Annenberg discovered that his own great-great uncle once lived there.

Meanwhile, on the retail front, sustainable women's fashion brand Reformation is set to open a new Lake View storefront at 3452 N. Southport Ave. in the first half of 2026, adding a stylish new anchor to the beloved Southport Corridor. With new homes and fresh retail arriving in tandem, Lake View's momentum heading into spring is hard to ignore. Keep an eye on both developments — and watch your neighborhood grow.

Sources:
1. https://www.chicagobusiness.com/commercial-real-estate/nearly-300-apartments-planned-sheridan-road-lakeview
2. https://www.chicagobusiness.com/retail/reformation-womens-clothing-brand-opening-2-chicago-stores