Wilmette-based real estate firm Terraco has recently purchased the Megamall site on Milwaukee, north of Fullerton. The building which housed an indoor flea market, is going to be razed with potential plans of retail spaces, anchor stores and potential apartments. This is the same site that the city and local alderman wanted to purchase to add more green space along Milwaukee a few years ago for $8 million.
Logan Square has been an emerging neighborhood, as artists, restaurants and young professionals have transformed the neighborhood into a destination. The parking lot next door to Megamall (in addition to many of the wall spaces in the area) is adorned with wall murals, wheat paste and other art from artists. We have seen this occur in other neighborhoods before, such as in West Town, and most recently Pilsen. Milwaukee has seen a multitude of businesses opening up along Milwaukee in recent years, and developers are hoping to capture the growing interest and potential that new developments may bring into the area.
Some of the other planned developments being discussed may need zoning changes as well support from residents. Logan Square is located northwest from the Loop along the Blue Line.
Sherwin L. Sucaldito, REALTOR®, GREEN, ABR, CRPM
The Institute of Luxury Home Marketing
Green REsource Council, GREEN
Accredited Buyer’s Representative , ABR
Certified Residential Property Manager, CRPM