by Dan Rafter
The land-marked building at 800 N. Clark St. in Chicago will soon be getting a major makeover, thanks to the efforts of Chicago-based holding company Cedar Street Co.
Cedar Street recently purchased 800 N. Clark St., a building that they’ve renamed FLATS No. 800. The company plans to turn the building into a multi-family building with 13,000 square feet of of retail space in the ground-floor lobby.
Cedar Street will gut-renovate the building to make this transformation.
800 N. Clark St. is the eighth building owned by Cedar Street in Chicago, and the latest addition to its FlATS line of apartment buildings. FLATS properties feature small apartment units with a focus on walking and bicycling. New renters even receive a free bike when they sign a lease in a FLATS building.
“FLATS maintains a focus on creating spaces with character and soul,” said Alex Samoylovich, managing partner with Cedar Street, in a written statement. “This property’s rich history and unique architecture embodies that spirit and allows us to expand our love for community to the Near North Side.”
Cedar Street already runs FLATS properties in Chicago’s Uptown, Edgewater and Ravenswood neighborhoods.
Cedar Street spent $12.5 million to acquire 800 N. Clark St., with Associated Bank providing acquisition financing of $7.5 million.
800 N. Clark St. comes with an interesting history. It was built in 1901, when it was known as the Bush Temple of Music, home to the Bush and Gets Piano Company. Architect J.E.O. Pridmore designed the building.
After its renovation, the newly christened Flats No. 800 will feature a new fitness center, 24-hour door staff, an on-site office with full-time staff, garden with barbecue grills, free Wi-Fi and an electronic entry system.