View of 3121 N Sheridan Rd by Annenberg Investments
Initial details have been revealed for the apartment conversion of the former senior housing building at 3121 North Sheridan Road in Lake View. The existing building spans an entire city block, bound by West Briar Place to the north and West Barry Avenue to the south, and was recently purchased by local developer Annenberg Investments.
Site context map of 3121 N Sheridan Rd via Google Maps
The 14-story structure was originally built in 1954 and has changed hands several times. It was taken over by senior housing developer Ventas in the 1990s, which eventually partnered with Brookdale Senior Living until last year. Brookdale abruptly announced last August that it would be closing the facility and displacing all residents from its 256 units, according to CBS.
We now know this followed Annenberg’s $30 million purchase of the property late last year. The developer plans a substantial interior renovation, adding amenities such as a fitness center, coworking space, podcasting studio, and more. The existing units will be deconverted into 296 apartments comprised of studio and one-bedroom layouts.
View of 3121 N Sheridan Rd via Google Maps
Because the building was already vacated when it was handed over — and because the site is already zoned for apartments — the team is wasting no time kicking off construction. Work is expected to take place for most of the summer, with a Fall 2026 opening date listed on Annenberg’s website. Market-rate rents are projected to range from $1,850 to $2,650 per month upon completion.
The completed project will be managed by Peak Properties and leased by Cross Street.
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3121 North Sheridan Road Lake View Residential
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