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Developers unveil ten-story condo project at Huron & Sedgwick in Chicago’s River North

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The proposal calls for 45 spacious condos expected to be priced between $1 million and $2.2 million

Image courtesy of Morningside Group
Image courtesy of Morningside Group

With a seven-story condo building under construction to the east at 351 W. Huron and an eleven-story project in the works to the south at 360 W. Erie, it was perhaps only a matter of time before a development was proposed for the surface parking lot at 365 W. Huron in Chicago’s River North. Last night, a team comprising of developer Morningside and architect Pappageorge Haymes publicly presented its plan for a 10-story, 45-unit condominium building at the site.

Slated to rise 138 feet, the proposed design features five three-bedroom units per typical residential floor. Ranging between 2,200 and 2,700 square feet in size, the units are expected to fetch between $1 million and $2.2 million. A communal rooftop space above the 10th floor will include an outdoor terrace with grills, fire pits, and seating. This level would also feature landscaping, a dog run, and a partial green roof system.

Despite being less than 700 feet from a train station, the project will not take advantage of Chicago’s Transit Oriented Development (TOD) ordinance to pursue a less than 1:1 parking ratio. Instead, 365 W. Huron reserves 51 garage spaces across its first level and basement accessed via two doors facing a widened southern alleyway. Two existing curb cuts will be eliminated.

The site at 365 W. Huron is currently improved with a surface parking lot.
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The building’s facade features a central, rectangular brick frame flanked by metal spandrels, inset balconies, and corners wrapped in floor-to-ceiling glass. Meanwhile, the ground floor will consist of a storefront style window system but with opaque glass to obscure the internal lights of the ground floor parking garage. The development will include no retail component, which the alderman described as “in character with the surrounding blocks.”

From a zoning standpoint, the project requires an amendment to existing Planned Development No. 461. If approved, the measure would only modestly bump the site’s underlying Floor Area Ratio (FAR) of 7.0 up to 8.1. A portion of the development site is also owned by the City of Chicago and while an ordinance authorizing the $3.74 million sale was approved by the City Council in 2015, the actual land transfer has yet to take place.

Image courtesy of Morningside Group

As with any new development, some neighbors in attendance expressed concerns over the height of the project. “Everyone has a different idea as to what comprises a tall building,” explained Reilly, adding that he felt 10 stories was “appropriate for the neighborhood.” The development team went on to explain that they had started with a 15-story design before negotiation and compromise lead to the 10-story project presented last night.

One neighbor questioned the economics of the project, stating that new condo units in neighboring projects have been slow to sell. Morningside President David Strosberg responded that he believed there is “pent up demand” for three-bedroom condos, especially among empty-nesters desiring a downtown location but on a relatively quiet street such as Huron.

As far as timing is concerned, Strosberg is targeting a third quarter of 2018 start—provided approvals and pre-sales go smoothly. The project would need to sell between 40 and 50 percent of its units prior to breaking ground, the developer said.

Image courtesy of Morningside Group