A new 15-story condo development is poised to break ground at the northwest corner of Erie Street and LaSalle Drive in Chicago’s River North neighborhood.
Known as The Bentham, the project received a construction permit for its foundation and first three floors on Monday. The latest city go-ahead comes roughly 10 months after an earlier permit OK’d the site’s yet-to-appear tower crane.
The Bentham is both developed and designed by Chicago-based Sedgwick Development and contain 31 three-bedroom, three-bathroom condos priced above $1 million. The project is over 45 percent pre-sold, according to its website. The plan also calls for an outdoor pool deck, fitness center, 53 parking spots, and 3,100 square feet of ground-floor commercial space.
The upcoming tower replaces the demolished Erie-LaSalle Body Shop building and shares a block with two new rental developments: The Ardus and Marlowe. Both neighboring residential projects have topped out and are on track to open later this year.
As for other River North rebounding condominium developments, work continues on 38-unit project at 360 W. Erie and the 11-unit building at 56 W. Huron. Other approved proect such as 366 W. Superior and 61 W. Erie, however, have yet to sell the requisite number of units to break ground.
- The Bentham gets a permit to begin construction in River North [Building Up Chicago]
- New construction permit at 146 W. Erie Street [Chicago Cityscape]
- 15-story condo tower proposed for Erie and LaSalle [Curbed Chicago]
- The Bentham Chicago [Official website]