Full-service real estate firm Draper and Kramer, Inc. cut the ribbon on a Culver’s restaurant—the first in the city—at their Lake Meadows Market retail center in Chicago’s Bronzeville neighborhood. Among those attending the grand opening were Culver’s Co-Founder Craig Culver, Culver’s President and CEO Joe Koss, Chicago 4th Ward Ald. Sophia King, the Draper and Kramer development team and multiple project and community partners.
Located at 35th Street and King Drive, Lake Meadows Market is undergoing a multi-phase redevelopment. Phase I of the project, completed in 2015, added a new 40,000-square-foot LA Fitness and renovated existing retail space. Phase 2 includes façade updates and new construction that will ultimately bring 11,500 square feet of additional retail space to the shopping center to house new tenants in addition to Culver’s.
“Draper and Kramer has a long-standing commitment to Bronzeville, from our firm’s involvement in the creation of Lake Meadows in the 1950s, to our current long-term vision for the Lake Meadows community and, most recently, our role on the redevelopment team for the former Michael Reese Hospital site,” said Ed Polich, chief development officer for Draper and Kramer. “We’re proud to continue to enhance one of Chicago’s most vibrant neighborhoods through the addition of great new retail and restaurant options like Lake Meadows Market and Culver’s, which will only add to this community’s appeal for current and future residents.”
Draper and Kramer worked with Chicago-based Urban Partnership Bank to finance the first and second phases of the Lake Meadows Market redevelopment. “This Culver’s and the entire Lake Meadows Market represent the type of project needed in the Bronzeville community,” said Darrell Hubbard, chief banking officer for Urban Partnership Bank. “Being a part of this development is a meaningful example of our bank’s mission—to make a difference in the communities we serve.”
Powers & Sons Construction Company is the contractor for Phase 2 of Lake Meadows Market, which will also incorporate a number of sustainable features such as green roofs, permeable paver parking lots, extensive streetscaping and outdoor dining areas. Powers & Sons was among a consortium selected in 2017 to help construct the Obama Presidential Library.
