Chicago’s relatively slow-to-recover condominium market is showing encouraging signs this month as crews make room for a new condo development at the northeast corner of Sedgwick and Superior streets in River North. Despite less than ideal winter weather, demolition on a pair of existing low-rise commercial buildings at 360 and 368 W. Superior Street is in full swing.
Their eventual replacement, a 12-story project known as Superior House, will include for 34 for-sale residences, a 63-space parking garage, and amenities such as a formal lobby, fitness center, dog run, vegetable garden, and rooftop terrace.
The project comes from developer Ascend Real Estate Group—the group behind the nearby Niche 905 Apartments—and features a glassy facade, balconies with wood soffits, and a flying buttress-inspired crown designed by FitzGerald Associates Architects.
Unlike apartment buildings where developers can build projects quickly on speculation, the slower pace of condo developments is dependent on reaching a predetermined level of pre-sales prior to breaking ground.
“We’re doing well,” said Carrie McCormick of @properties, the firm handling marketing for Superior House. “We have 11 units under contract and are waiting to see how demolition and site prep progress before announcing our construction schedule.” The development team is targeting a spring 2020 delivery date, said McCormick.
Superior House will join a growing number of boutique River North condo projects including the soon-to-be completed developments at 360 W. Erie and 56 W. Huron. Other projects like the The Bentham and 61 W. Erie, however, completed demolition but are still waiting to break ground.
- A closer look River North’s upcoming ‘Superior House’ condos [Curbed Chicago]
- 12-story condo project headed for Sedgwick and Superior [Curbed Chicago]
- Previous River North coverage [Curbed Chicago]