After months of community meetings and after making numerous changes to their plan for 111 S. Peoria, developer LG Development is not only moving ahead with their new condo project for the West Loop neighborhood, but we now have a first look at the pricing and floor plans for the new building. The project, now dubbed Illume, started off as a 13-story, 215-unit rental proposal, but received considerable backlash from West Loopers. The building design and programming was changed before meeting with the City Council, and when it is completed, the new development will eventually deliver 95 condos to the booming area.
And while the West Loop continues to remain a hot market for both buyers and sellers, the new condos at 111 S. Peoria are expected to start at just $192,000 for a one bedroom. Don’t expect the sub-$200K units to be super spacious though. They’ll start at 558 square feet, while larger 872-square-foot and 915-square-foot one-bedroom floor plans will go for $370,000 and $385,000. However, a small and cheap one bedroom may be convenient for a Google or McDonald’s employee who is just getting started in the city.
In total, there are 39 pages of different floor plans. The project will offer a number of different sizes as well, going from small and large one-bedroom units up to spacious four bedroom, four bathroom condos. Expect to drop about $650,000 for a two bed, two bath unit, or $950,000 for a three bed, three bath. The development’s largest units will break the two million dollar mark, as the eight penthouse units will range between $1.85 million and $2.495 million.
First deliveries are expected sometime between winter 2017 and spring 2018.
- Three Proposals for Chicago's Booming West Loop to Seek City Approval [Curbed Chicago]
- West Loop Condo Project Receives Aldermanic Support [Curbed Chicago]
- West Loopers Still Don't Like LG's Plan, Suggest Community Center Instead [Curbed Chicago]