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Developer Closes On Trumbull School At Last, Working Towards Breaking Ground

After hitting a few roadblocks after being selected as the future developer of Trumbull school in 2015, Svigos Development has successfully closed on the building this month. According to the contract with Chicago Public Schools (who owned the building), the property will contain a maximum of 49 residential units and house a theatre company in its renovated auditorium.

Alderman Patrick O’Connor said today in a statement that the firm is “working toward beginning the residential and theater development.” The site at 5200 N. Ashland Ave, which was purchased for $5.25 million, could start seeing work begin in the near future. 

Svigos Development ran into issues last year after Timeline Theatre, who was set to occupy the auditorium, backed out of the deal. Timeline cited an ‘Inherent conflict between what renovations are allowed in order to meet the requirements related to the developer’s tax credits.’

Svigos is moving forward despite not having a theatre lined up as of yet.


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