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New Condo Projects Creeping Back In River North

By David Matthews | February 22, 2017 5:29am
 A look at a 12-story condo tower proposed for 360 W. Superior St. 
Condo Tower Proposed For 360 W. Superior
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RIVER NORTH — Two more condominium towers are on the table in River North, and a third just got city approval.

A venture led by Chicago-based Ascend Real Estate Group wants to build a 12-story, 34-unit condo tower at 360 W. Superior St., a low-slung brick building next to a car wash, according to 42nd Ward Ald. Brendan Reilly, who shared renderings of the proposal with constituents. 

Elsewhere, Deerfield-based Kiferbaum Development wants to build a 13-story, 11-unit condo tower at 56 W. Huron St., a former church that's now a hair salon, according to an application with the city's Zoning Board of Appeals.

Condo projects have been sparse in post-recession Chicago, where the majority of new towers have been dedicated to apartments for rent. 

But new condos for sale are creeping back in well-heeled Downtown neighborhoods such as River North, where luxury condos are on the table at 300 W. Huron St., 360 W. Erie St., and next to Trump Tower, among other places. 

The tower on Superior would have 63 parking spaces and four condos per floor, aside from two half-floor penthouses on the 11th floor, Reilly said. The top floor will be for resident amenities, including a lounge, fitness center, outdoor kitchen and dog run, as well as space for sunbathing.

The project on Huron would call for razing a former church and replacing it with a tower. 

Both projects were unanimously approved Friday by the city's Zoning Board of Appeals, said Peter Strazzabosco, deputy commissioner of the city's Department of Planning and Development. 

Asking prices for the projects are unknown. Developers associated with the two projects did not return messages seeking comment. 

A rendering of the condo tower planned for 360 W. Erie St. [GREC Architects LLC]

At 360 W. Erie St., Chicago-based Belgravia Group plans to replaced the shuttered Citizen Bar with an 11-story, 38-unit condo tower. Prices for the condos, all three-bedroom units, range from $1.1 million to about $2 million. Five have already sold, said Alan Lev, Belgravia's president. 

Lev expects to start construction in the fall and open the tower in 2019. Belgravia shared details on the project Wednesday after receiving approval from the city's Zoning Board of Appeals. 

"People love living there," he said. 


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