After completing a takeover of National City Bank in June, PNC Bank is making a major push into the Chicago market. As a result, some significant development is underway in our community, including a new retail bank location at the corner of Addison Street and Ashland Avenue and one at the corner of Lincoln and Berteau avenues.
PNC spokesperson Stan Lata said the lot on the southwest corner of Addison and Ashland, currently under construction, will house a LEED-certified, 2,000 square foot bank branch with a drive-through facility and parking. PNC hopes to open the branch in the first quarter of 2011.
The Addison and Ashland spot, formerly a corporate-owned Shell gas station, is now owned by Shiner Capital Partners, LLC, a Wilmette-based real estate investment group. According to Shiner principal Philip Slovitt, the company purchased the property from Shell at the end of 2009 with the express purpose of developing it for PNC. Shiner will lease the developed property to the bank.
The Lincoln and Berteau location, a long-vacant “Gas For Less” gas station, will also include the demolition of the Berteau Avenue two-flat adjacent to the lot. Local developer Matt Wilbur owns both the lot and the house. He initially received approval from the city to develop condos on the location.
“We originally got approval for mixed use,” said Wilbur. “But we just couldn’t get the financing and get it sold. We’re lucky enough to come up with this use.”
The City Council has approved permits for a three-lane drive-through and an LEED-certified building at Lincoln and Berteau, including a curb cut on Berteau. According to Wilbur, PNC is currently working to obtain construction permits, and he’ll demolish the Berteau house and remaining structures on the Gas For Less lot in October.
PNC’s Lata did not know when the Lincoln and Berteau location is slated to open.
In order to obtain the Berteau curb cut, some additional permitting was required from the city, including the removal of residential status for the 2000 W. Berteau block.
“Alderman Schulter has asked us to put additional landscaping on Lincoln and Berteau parkways, as well as on the east and north property lines,” said Wilbur. “The Alderman has asked us to match the ornamental lighting on the street, some fencing, [and] one of the Northcenter [neighborhood] gateway elements.”
PNC Bank is also planning a new retail location at Halsted and Wrightwood that is scheduled to open in the first quarter of 2011.
PNC Bank’s arrival on the North Side would be in line with what appears to be a major marketing campaign in Chicago. DePaul University has a school-wide agreement with PNC Bank that provides benefits to faculty, staff, students, and alumni and goes into effect this year.
Mike Fourcher contributed to this report.