The days appeared to be numbered for another River North parking lot as developers plan to introduce their vision for the southeast corner of Huron and Sedgwick. In two weeks time, representatives of Morningside Huron, LLC will join 42nd Ward Alderman Brendan Reilly and the River North Residents Association at a meeting to discuss a proposed ten-story development for the site at 365 W. Huron Street.
Previously owned by the City of Chicago, the parcel was sold to Morningside for $3.74 million in 2015. According to Reilly’s announcement, the latest plan includes 45 for-sale condominium units and parking for 51 cars with the majority of spaces slated for an underground garage. No word yet regarding the design architect.
The proposal represents the third condo development for the block bordered by Huron, Orleans, Erie, and Sedgwick. Regency Development Group is currently putting the finishing touches on a seven-story, six-unit boutique project at 351 W. Huron while Belgravia Group is in the midst of pre-sales for an eleven-story, 38-unit building proposed for 360 W. Erie. Just one block to the east, JFJ Development is marketing condos in its 24-story tower planned for 312 W. Huron.
Looking slightly further afield, River North’s condo market is showing encouraging new signs of growth with additional projects planned at 56 W. Huron, 61 W. Erie, 146 W. Erie, 360 W. Superior, and 403 N. Wabash. While rental apartments continue to be the primary force driving the downtown neighborhood’s real estate boom, new condo construction—larger, high-end units in particular—are clearly back.
As announced in Alderman Reilly’s most recent newsletter, the public meeting will take place on Monday, October 2nd at 6:00 p.m. in the Truss Room of the Godfrey Hotel at 127 W. Huron Street.