While the faint outline of a new building slated for the corner of Erie and LaSalle was first teased by broker Jameson Sotheby’s Realty back in January, the River North condo project known as “The Bentham” has officially stepped into light. The 15-story tower comes from developer Sedgwick Properties and will contain 31 large, high-end residences reportedly starting around $1.3 million a pop. According to the development’s new website, future residents can look forward to amenities such as a 15th floor pool and sundeck, fitness center, and a 24-hour concierge service.
The Bentham will rise on the site of the old Erie-LaSalle Body Shop at 146 W. Erie Street. The River North business vacated its long-time location late last year for a new home at 1005 W. Huron. The precise timing for the project’s groundbreaking and delivery are unknown, but a demolition permit for the single-story masonry building issued by the City of Chicago less than two weeks ago is a clear indicator of the corner’s pending redevelopment.
The 31-unit development is the latest in a string of new condos proposed for River North and yet another sign of the rental-heavy downtown market creeping back towards condominiums. Other projects include the under-construction examples at No. 9 Walton and 351 W. Huron as well as proposals on the drawing board for 360 W. Superior, 356-366 W. Erie, 57-61 W. Erie, 56 W. Huron, and 300 W. Huron.
According to Crain’s, the entire River North neighborhood sold 33 new condos in 2016—a notable increase from just nine the year before. With the Bentham joining the pipeline, expect that number to continue to climb.
- Bentham Chicago [official website]
- Erie-LaSalle Body Shop being cleared to make room for new condos [Curbed Chicago]
- Three new residential projects could completely transform this River North block [Curbed Chicago]
- Previous River North coverage [Curbed Chicago]