Ravenswood Factory Going Residential; 15 Lofts on the Way

Posted by Nick Nastos on Tuesday, October 31st, 2017 at 5:51pm.

Ravenswood Loft ConversionAn old Ravenswood factory could soon be converted into high-end condos. That’s the proposal from a developer, hoping to turn a three-level, former screw factory into new residential units.

The plan calls for changing over an industrial building at 4046 N Hermitage Avenue into a total of 15 loft-style units. In addition, plans also call for demolishing an adjacent structure and replacing it with three new condos.

The developer also plans to deliver a total of 31 parking spaces, as well as add new landscaping, a green roof, a communal deck and exterior balconies to the former factory. Most of the condos would be priced between $800,000 to $1 million, with two affordably priced units of around $400,000.

The project still needs a zoning change approved by the city council and developers need to close on the two properties. If all goes as planned, the developer hopes to break ground in the spring and deliver the units by the end of next year.

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