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The Chicago Department of Buildings issued a foundation permit this week for a 15-story River North condo tower. Sedgwick Development is building The Bentham on the former site of the Erie-LaSalle Body Shop at 146 West Erie.
The work covered under the permit, valued at $4M, includes building the foundation and first three floors, which will be enclosed parking for 53 vehicles. A 3,132 SF retail space will be built on the ground level.
The Bentham will eventually include 31 condos on the fourth through 14th floors. The top floor will be a rooftop deck and pool. Other amenities include 24-hour concierge service and a fitness center. The units, which sell at $1.3M each, are three-bedroom, three-bath units with floor-to-ceiling windows, private terraces and elevators. Sedgwick Development said The Bentham is 45% sold.
The Bentham joins a growing River North condo pipeline including No. 9 Walton, Renelle on the River, 360 West Erie and 366 West Superior. Sedgwick has been one of the busiest developers in Old Town this cycle. It holds several properties in the area, including a new 69-unit apartment building at 301 West North Ave. Sedgwick was also a bidder for the Maryville Academy site in Uptown that eventually went to JDL Development, and is being redeveloped into Eight Eleven Uptown.
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