Addison Park on Clark Renderings View Full Caption

LAKEVIEW — Developers of the stalled Addison Park on Clark project hope to break ground early next year, according to Ald. Tom Tunney's (44th) office.

The $140 million development will bring an 8-story mixed-used building with 148 rental units, nearly 170,000 square feet of retail space and 493 parking spots to the corner of Clark and Addison.

A number of local businesses — including Red Ivy, Salt & Pepper Diner and Mullen's on Clark — will be torn down to make way for the project, according to Bennett Lawson, Tunney's chief of staff.

Goose Island founder John Hall closed his Wrigleyville bar late last month, citing the Addison Park on Clark project. He said the business ran on a month-to-month lease, and his landlord couldn't guarantee the bar would remain open through the end of the 2015 Cubs season.

The developers "would like to break ground in the first quarter of next year," Lawson said. "Their plan is to get rolling in the first quarter, demolishing and clearing the site."

Lawson estimates the entire project will take 18 to 24 months.

Developer M&R Development did not respond to multiple requests for comment.

Most of the businesses along Addison Street between Clark and Sheffield will be torn down, Lawson said. These include a Starbuck's, 7-Eleven and several small offices.

Two stores at the corner of Addison and Clark will remain standing: Luis Auto Repair, 1031 W. Addison St., and Sports World, 3555 N. Clark St. Lawson said these will remain separate from the Addison Park on Clark project.

Along Clark Street, everything from 3525-3545 N. Clark St. will close. This includes Red Ivy, Mullen's on Clark and Salt & Pepper Diner. Three impacted storefronts have already shut down: Bar Louie, iO Theater and Goose Island Wrigleyville.

If Addison Park on Clark construction does span two years, it'll overlap with two Cubs seasons and ongoing Wrigley Field construction.

Lawson said Tunney's office plans to coordinate each phase of construction with CDOT, the department of buildings, the Chicago Cubs and Addison Park on Clark developers.

"Pedestrian and vehicle access is key," he said. "This is something we've dealt with on smaller projects."

A spokesman for the Chicago Cubs said the team was aware of the Addison Park on Clark project, but is focusing its energy on completing its own Wrigley Field renovations on time.

Once complete, Addison Park on Clark will include a health club, rooftop pool and sun terrace area for the building's residents, M&R Development told DNAinfo last year.

Lawson said the 7-Eleven being torn down near Addison and Sheffield is expected to reopen inside Addison Park on Clark. There's no word on the future of other impacted businesses, and none of new development's retail space has been leased yet, Lawson said.

For more neighborhood news, listen to DNAinfo Radio here: