The autumn bells are ringing, and here in Chicago new construction keeps moving forward in full speed. There are several high rises scheduled to begin construction in the coming weeks, and many more preparing to break ground within the year. According to Appraisal Research Counselors "the downtown market will gain nearly 11,000 apartments in 2015 & 2016"
Let us jump right into volume three of “Cranes Cranes Everywhere!”...
400 W Huron - River North
Developer Smithfield Properties introduced their proposal to the demolish their headquarters, located at 400 W Huron around a year ago. Flash forward to today, Smithfield is about to begin construction on on a brand new 15-story, 26 unit condominium development any day now.
The tower crane permit was just recently issued for the high rise, which features individual heated garages, high-end appliances, and prices starting at $1.3M.
Dual Towers - Milwaukee & California, Logan Square
The Dual Towers going up in Logan Square are the first of several somewhat controversial projects planning to launch near Blue Line stations along Milwaukee Ave. The Chicago Plan Commission approved the transit-oriented development a few months ago, which was recently issued its building permits. The towers will stand 12 and 11 stories, and boast 213 rental units, approx 9,000 ft of retail space, and 68 parking spots.
2950 N. Sheridan - Lakeview
A 19-story, 82 unit development at 2950 N Sheridan was announced a few days ago by Wirtz Realty Corporation. Set to begin Sept 9th, and expected to take about 22 months, this impressive tower is being designed by Booth Hansen. Leaving no stone unturned, building amenities include a cafe, fitness center, 24/7 door staff, private heated parking, pet park, and more.
Having eight existing Lakeview properties in their portfolio, we look forward to paying close attention to another residential project from Wirtz Realty.
113 E. Roosevelt Rd - South Loop
Proposed earlier this week by developer Crescent Heights, and distinguished architect Rafael Viñoly, 113 E. Roosevelt Rd may be the future home to one the tallest buildings in Chicago. The proposal outlined a plan for at least one 76-story tower, with the possibility of a twin. The project would act as an “anchor to the south end of grant park”, and produce almost 800 new apartments.
Viñoly expressed that this project will feature a variety of apartments, and multiple price points.