Though work on the 12-story, 10-unit condominium building slated for 61 W. Erie Street in Chicago’s River North neighborhood has yet to begin, a pair of residences in the upcoming development recently hit the market. The three bedroom, three-and-a-half bathroom full-floor condos occupying the building’s second and third levels are respectively asking $2,450,000 and $2,185,000—or between roughly $750 and $850 per square foot. Designed by NORR Architects, the modern glass and concrete building will also feature 10 parking spaces and a decorative green wall on its ground floor.
Given its prime downtown location, large terraces, and roomy 2,900-square-foot floor plans, condo prices were anticipated to “easily exceed $1 million” to quote builder LG Development who remained mum with regards to exact pricing at last summer’s public presentation. It still remains to be seen how much the project’s duplex penthouse unit hopes to fetch, but at least $1000 per foot wouldn’t be an unreasonable assumption.
Originally on track for a fall 2017 opening date, it’s quite obvious the timeline for 61 W. Erie has slipped. The site formerly occupied by the Astrolab film processing facility is still a hole in the ground and has seen no construction permits issued thus far. But with the project actively courting buyers, it may not be much longer before work starts on the 12-story structure.