Developer Shares Vision for Former Sappano's Paint Building

An area developer says he plans to demolish the former Sappano's Paint & Wallpaper Co. building to make way for a four-story apartment complex.

Developer Tom Gibbons of Shepherd Real Estate Subsidiary LLC proposed the new plan Thursday for the massive, vacant storefront at 2940 N. Halsted St., which is just a few blocks north of Lincoln Park's northern border of Diversey Parkway. It has been empty since 2009.

He says he thinks filling the void is the best move for the neighborhood, especially because his family has been a part of the surrounding community for decades.

“My father started the real estate business approximately 30 years ago, and I’ve been working with them for 17 years,” Gibbons said. “I also live in central Lake View, so we’re deeply rooted in the neighborhood.

He noted that he's lived in Lake View since "before the neighborhood was trendy.

“So we’re not Johnny-come-latelies," he said, with a laugh. "We think our project is going to be a great addition to the community.”

Gibbons’ architect, Brian Milbury, explained they’re looking to change the lot’s zoning from a commercial space to all residential. The new brick building would have 25 rental units and no commercial tenants.

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The two-floor units would be roughly 1,100-square-feet each, include 25 parking spaces. Each unit would have an outdoor space like a balcony or a patio, and none of them are slated to be condos when introduced to the market. They could, however, become condos at some point if Chicago’s market changes.

Some residents at Thursday’s meeting expressed a disinterest in changing the zoning to allow for more residential units on Halsted, but Gibbons said he’s been doing an exhaustive search for a commercial tenant since 2009 to no avail.

Gibbons and Milbury will have to attend next month’s Central Lakeview Neighbors Meeting for a potential vote to approve the new development.