Edgeville Buzz

Edgewater’s Overture High Rise Undergoes Revisions After Community Input

OvertureThe development of 5440 N. Sheridan has been stalled over the last several years and Greystar, the new developers, are working to get the building off the ground. Previously the Bluewater Project, the current project is called Overture Edgewater and was designed by local architects Pappageorge Haymes (P/H).

In 2016, community input was welcomed in meetings and residents were able to find out more information. Through that exchange, the Overture project has undergone several changes.

In a statement put out by Alderman Harry Osterman, he said, “After meeting with residents in the community over the last year and with my office, the developer of the proposed Overture Edgewater project at 5440 N. Sheridan has agreed to the changes to the plan.”

Those changes include:

  • Reduction in height of building, from 18 to 16 stories; 200 ft to 179 ft
  • Reduction in overall unit count from 186 to 174 dwelling units
  • Minor changes to facade appearance
  • South setback reduction

The proposed building will cater to individuals ages 55 and older. It will consist of one bedroom (46%), one bedroom + den (15%) and two bedroom (39%) units ranging in size from 791 to 1,218 square feet. On the 4th floor, there will be 9,000 sq. ft. of exterior space including a pool, deck and green roof.  The interior will consist of 9,000 sq. ft. of amenity space including meeting rooms and exercise space.

The building will also have 190 indoor, heated parking spots which is just over a 1:1 ratio for building tenants. A total of 60 additional parking spots will be designated for the the current owners of the lot, 5445 North Sheridan Condo Association. There will also be 17 outside alley spots designated for guest parking and two additional spots for car sharing programs.

As part of the Alderman’s zoning process, a community meeting regarding the proposed development will be held on Thursday, Jan. 19, 6:30 p.m. at St. Andrew Greek Church, 5649 N. Sheridan. 

Greystar will not only be developing the high rise, once complete they will also be managing it. They are the largest apartment management company in the U.S. Some of its current managed properties include luxury communities such as SoNo East, Optima Chicago Center, E2, Halstead Flats and K2. Washington-based The Carlyle Group will be providing the required equity for the project.

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