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Belgravia Group's Renelle on the River, its luxury condominium project adjacent to Trump Tower, has a green light to start construction — the Buildings Department issued a construction permit for the 18-story, 50-unit project at 403 North Wabash.
The construction permit issuance comes as Renelle's sales heat up. The development is now 45% sold, driven in large part by a virtual reality "model home" where buyers can walk through floor plans and choose their finishes. Belgravia Group CEO Alan Lev told Bisnow in July that Renelle's site is hidden in plain sight, and that virtual reality allows buyers to visualize their units and the views of the Chicago River and Wrigley Building they will have.
Groundbreaking for Renelle will take place later this month, and construction is expected to go vertical within a few weeks of the groundbreaking. Renelle's condos are selling between $1.6M and $3.2M.
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