Former ‘pink’ restaurant at Montrose-Elston, nearby buildings being demolished; no immediate redevelopment plans
by BRIAN NADIG
The demolition of what is known by some as the “pink” restaurant at the southwest corner of Montrose and Elston avenues recently began.
There are no immediate redevelopment plans for the 27,000-square-foot site, as the property owner feels the parcel will sell faster if it is vacant, according to a spokesman for Alderman Samantha Nugent (39th). Prospective buyers reportedly expressed interest in reusing the building but eventually determined that it was in too poor of a condition, the spokesman said.
About 1 ½ years ago a developer proposed a mixed-use building for the site, but the project never materialized, according to the Pulaski Elston Business Association. It would have included a drive-through facility for a restaurant.
The property’s B3-2 zoning would allow for up to 27 residential units above storefronts.
The site includes a two-story, multi-unit residence at 4344 N. Keystone Ave. and a one-story commercial building at 4352 N. Keystone Ave., where Amazing Discounts once operated. Both Keystone buildings, located behind the restaurant, also are being demolished.
The former Vosnos restaurant has been vacant for more than 10 years, and at one time the building’s exterior was painted pink. Most recently the front façade was brown.
Demolition permits for the project were issued earlier this month.
The asking price for the parcel reportedly is $2.2 million. The site is located in the Lawrence/Pulaski Tax Increment Financing District, whose funds could be used to subsidize a portion of the project or to pay for public infrastructure improvements in the area.
