Local restaurateur Brendan Sodikoff is loading up on the Lincoln Park grounds.
The head of hospitality company Hogsalt, which runs high-profile restaurants including the acclaimed Au Cheval, has bought three adjacent sites in Lincoln Park for a combined $6.7 million, although his plans for the site remain a mystery, Crain’s Report.
Between December and August 2021, legal entities managed by Sodikoff purchased properties located on North Fremont Street from 1954 to 1962, all of which owned homes totaling 12,000 square feet.
If the restaurateur knocks down the building to build a new estate, current zoning would allow a maximum home size of about 24,000 square feet, which could cost $17 million to $24 million, depending on building materials.
If Sodikoff goes that route, he won’t be the only one replacing Lincoln Park’s architectural portfolio with something bigger.
developer BDG&C Last year, a buyer paid $9 million for a quadruple lot in Lincoln Park, again selling the land for a premium price, likely setting the record for the most expensive block sold for land alone.
In Winnetka, billionaire Justin Ishbia has been turning heads in Winnetka as he razes three mansions on the shoreline of Lake Michigan for An epic $44 million Home construction project. Its estimated cost of $77.7 million, including the purchase of the home he bought for demolition, would set a new record for the most paid for a single residence in the Chicago area.
Such programs have also become more common in Lincoln Park since the early 2000s. The standard lot size in Chicago is 25 feet by 125 feet, and some buyers buy multiple lots to build their dream mansion. Others buy homes to demolish near their existing residences in order to expand their yard space.
Sodikoff’s largest properties are a 1954 North Fremont property totaling 6,000 square feet, while two others are 3,000 square feet. He has yet to submit plans to build a new home or demolish the property’s existing structure.
— Quinn Donoghue