EDGEWATER — There’s a new plan for a long-vacant property on busy North Sheridan Road in Edgewater.

After multiple attempts to develop the lot at 5440 N. Sheridan Road started and stopped over the years, Cedar Street Companies has a plan to build a 4.5-story building there with 78 residential units and 27 parking spots, according to Ald. Harry Osterman (48th).

Cedar Street plans to detail the project and answer questions at a community open house from 10 a.m. to 2 p.m. Saturday at nearby St. Andrew’s Greek Orthodox Church, 5649 N. Sheridan Rd.

Representatives from Cedar Street declined to comment in advance of the open house.

In 2017, Greystar Realty won the support of neighbors to turn the property into luxury high-rise apartments for seniors. But the project fell through for a lack of financing, Greystar Managing Director Gary Wallace said.

Ten years earlier, a plan from Bluewater Group developers to build 187 condos and 329 parking spaces on the lot fizzled amid the housing crash.

To get in touch with developers ahead of the meeting, email info@cedarst.com

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