New homes and loft condos are rejuvenating Bridgeport's diverse mix, blue-collar streets The
neighborhoods were part of the larger ethnic states. To the north
of the Loop was Germany. To the northwest was Poland. To the west
were Italy and Israel. To the southwest were Bohemia and Lithuania.
And to the south was Ireland. Stroll
the side streets of what once was known as “Chicago’s Ireland,”
the Near South Side neighborhood of Bridgeport, and you will experience
a voyage in a time machine. Today,
like 25 years ago, the neighborhood is inhabited by blue-collar families,
a diverse stew of Irish, Italian, Polish, Lithuanian, Mexican, Chinese
and African-American. The streets
and alleys are spotlessly clean, the cars are polished and it’s
not uncommon to see a church on one corner, a funeral home on another
and a saloon on the third at one intersection. Policemen, firefighters
and city workers are everywhere. Much
of the neighborhood looks just as it did 25 years ago, but a remarkable
change has occurred during the past few months. Developer
Thomas Snitzer has managed to assemble 35 acres of vacant former industrial
land along the South Branch of the Chicago River for a new residential
development called Bridgeport Village. The community is planned for
as many as 400 single-family homes with prices starting at $325,000
for a three-bedroom of 2,400 square feet. Meanwhile,
veteran South Loop loft developers Paul Dincin and Paul Marks have
launched the 71-unit Union Lofts, Bridgeport’s first loft condominium
development, at 939 W. 35th St. Their company, Tandem Developers,
L.L.C. has had remarkable success, selling more than 40 units in only
a few months to young professionals eager to return to their neighborhood
roots. Pre-construction
base prices at Union Lofts range from $189,900 for a one-bedroom,
one-bath unit to $378,900 for a two-bedroom, two-bath penthouse, according
to Sandi Lent, partner in Garrison Partners, the exclusive sales and
marketing agent for the project. Suddenly,
Bridgeport, which is only four miles from the Loop and 15 minutes
by car, is Chicago’s hottest emerging neighborhood. Real estate
developers say middle-class stability, a great location, sound housing
stock and the influx of affordable new-home and loft condominium construction
are sparking a residential boom that likely will lure young professionals
from pricier areas like Bucktown and the West Loop. Snitzer
Homes, an Arlington Heights-based builder, recently held a grand opening
for the 116-unit first phase of Bridgeport Village, the largest single-family
home community to be launched in Chicago in decades. The $55 million
community is located on the South Branch of the Chicago River between
32nd and 34th streets. Reminiscent
of Chicago’s great boulevard neighborhoods, developed at the
turn of the century under the Burnham Plan, Snitzer said the center
point of the community is a “midway pleasance,” along with
a 1,700-foot landscaped nature walk containing a series of private
parks. Snitzer
has confirmed that the Bridgeport Village venture has purchased another
16-acre tract of land, immediately west of Phase I on the west bank
of the Chicago River. Phase II of Bridgeport Village could involve
development of 120 single-family homes and creation of a river walk
/ park system even larger than the green space planned for the first
phase. Snitzer
said he hopes Phase II will eventually be connected to Phase I by
a pedestrian overpass linking the east and west banks of the river.
Boat slips also are on the drawing board for Bridgeport Village, real
estate insiders say. In addition,
the development team reportedly is in negotiations to buy another
16-acre industrial parcel east of the river and south of Archer Avenue,
just north of Bridgeport Village, for a proposed third phase. “We’re
creating a community where people can sit out on their front porch
in the summertime, talk to their neighbors and cement relationships,”
Snitzer said. |