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A luxury four-unit condominium building is being proposed for former Nick’s Cocktail Lounge site at 7427-29 W. Addison St., according to Alderman Nicholas Sposato (38th).

Sposato will hold a community meeting on the proposal at 6 p.m. Wednesday, May 23, at the Hiawatha Park fieldhouse, 8029 W. Forest Preserve Ave.

Plans call for the property to be rezoned from B3-1 to B2-2, and no commercial storefronts are planned for the proposed building, Sposato said.

The site is located at the southeast corner of the Addison-Osceola intersection, and currently there is a 2 ½-story, multi-family building at each of the other three corners of the intersection.

Sposato said that he expects most residents are glad that the existing building will be demolished given its condition and length of being vacant. The bar closed about 5 years ago.

In 2015 a permit was issued to convert the bar into a children’s daycare center, but it was never built. In 2017 citations were issued for construction debris on the site and a lack of a temporary fence along the property’s perimeter, according to the city Department of Buildings.