Last summer developer LG Development announced its plan to convert a long-empty warehouse on Kingsbury Street in River North into luxury condos, and now the company is trying to line up buyers for the 41 residences. High-end condos have taken the backseat to luxury apartments since the last real estate crash, however developers are slowly beginning to warm up to the idea of delivering new condominiums to the greater downtown area. This particular warehouse was once the focus of another developer's plan to convert it into luxury lofts, however the project stalled out in 2009 and remained vacant.
Currently there are two units available at the moment: a two bedroom, two bathroom unit asking $889,900 and a three bedroom, three bathroom unit asking $1.799 million. According to one of the listings, the new development has been dubbed "The Ronsley." The other listing hints that the units are expected to be delivered sometime in 2016.
·676 N Kingsbury Street #105 Chicago, Illinois 60654 [@properties]
·676 North Kingsbury Street Unit 206, Chicago, IL [Estately]
·Look for empty River North warehouse to become Chicago's latest luxury condos [Crain's]
·Park Kingsbury Lofts are Back From the Dead [CAB]