Updates on 5 Major Chicago Neighborhood Condo Projects
A church is set to become condos, developer Related Midwest is cutting the height on one of its projects, and more luxury condos are popping up in Chicago. Here are the details on five new condo projects.
Construction Continues on Three Sixty West
Construction on the Three Sixty West condo tower at 360 W. Erie St. in River Northis well underway, according to RE Journals. The building will feature 38 luxury condos ranging in size from 1,735 square feet to 2,396 square feet, according to the report. Three Sixty West, developed by Belgravia Group, will also have two penthouses on its 11th floor.
As the building marches toward completion, approximately half of its units have been sold, according to the report. The condos are going for $1.1 million to $1.6 million, while the one available penthouse has a $2,259,900 price tag. Features of the units include 10-foot ceilings, walk-in closets, and floor-to-ceiling windows.
“We are seeing many buyers who want to live in this neighborhood for the urban lifestyle options it offers. The cultural experiences and entertainment options right outside Three Sixty’s front door are extremely attractive across the demographic spectrum,” Liz Brooks, vice president of sales and marketing for Belgravia Group, told RE Journals.
The Bentham Lands a Construction Permit
The Bentham, a 15-story condo project slated for River North, took a major step forward by securing a foundation permit, according to Bisnow Chicago. The project is set to rise at 146 W. Erie St. It’ll feature 31 condos located on the fourth through 14th floors, while the ground level will have 3,123 square feet of retail space. The condo tower will also have a rooftop deck and pool.
Nearly half of the units—which are going for $1.3 million each—have already sold, according to the report.
1550 on the Park Moves Forward
Old Townis getting a new condo development: 1550 on the Park at 1550 N. Clark St. Developers CIM Group and Golub & Co. recently secured $58 million in financing for the development, according to The Real Deal.
The 10-story 1550 on the Park will have 32 condo units priced from $1.6 million to $5.6 million, and the project involves tearing down the former Elly’s Pancake House and preserving the original facade of the Village Theater. The units are expected to be ready sometime next year.
Fulton Market Condo Project Takes a Height Cut
Fulton Marketis steadily becoming denser with the influx of office tower and residential projects popping up. In response to community pushback, developer Related Midwest is reducing the height off its proposed condo tower at 170 N. Peoria St., according to Crain’s Chicago Business. The building was initially pitched at 51 stories, but it was reduced to 43 stories this spring. Now, the project has been reduced even further to 36 stories.
"In working with the developer to further reduce the height to a more contextual level, while preserving the many benefits, the WCA firmly believes the benefits this project brings to the community together with its specific use far outweigh the concerns," West Central Association Chamber of Commerce President Armando Chacon said in a letter, according to the report.
Even though the building took two height cuts, it’ll still be the tallest building located in central Fulton Market.
Church-Building-Turned-Condos Development Gets Started
St. Boniface Church at 1438 N. Chestnut St. in Noble Square is the subject of a $30 million condo conversion project, according to Block Club Chicago.
Developer Michael Skoulsky bought the church from the City of Chicago for $2.2 million in 2016, according to the report. The church, which dates back to the early 1900s, features Romanesque Revival architecture that will be preserved through the redevelopment.
“It’s been a real test of my endurance. It is something that I’ve been very passionate about. You can never recreate that structure. There are 9-foot solid brick walls in the church. The foundation is remarkable,” Skoulsky told Block Club.
The redevelopment project will create 17 condo units within the church and bring a separate 24-unit condo building to vacant land next to the church. The project could begin construction as early as this fall.