Gold Coast Dorm May Get New Life as Ash Depository

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    City of Chicago

    Dying to live in the Gold Coast?

    In the latest sign of the moribund real estate market, a local developer's proposing to convert the Three Arts Club, a former arts dormitory and landmark building, into a storage facility for the ashes of deceased residents, says the Tribune.

    The proposed facility in Chicago's ritziest hood would hold the carbonized remains of up to 15,000 residents.

    A spot could be yours for a bargain price between $1,000 and $10,000.

    Designated a Chicago landmark in 1981, the Three Arts Building was built in 1914 as a residence for young women studying music, painting and drama.

    Most recently, developers planned to convert the building into a private club and boutique hotel, but that plan fell through.

    In an ironic twist, the new proposal, by architect Bill Bickford, bested a rival proposal for a senior living facility.