River North has been one of the city's hottest markets for apartment development, but there are signs that condo projects can find a home there. The latest: the Chicago Plan Commission approved a proposal from Smithfield Properties to build a 23-story condo tower at 800 N Wells.
The project would contain 57 condos, most of them two- and three-bedroom units starting at $850k. The proposal also calls for duplexes every three floors, penthouses and 105 interior parking spaces, reports DNAInfo. Smithfield's Bill Smith is confident a condo project of this scale could work in River North, based on previous experience. He sold out a 26-unit development at 400 W Huron.
Belgravia is also looking to build condos in River North. The Plan Commission approved an $8.7M sale of two properties at 366 W Superior and 356-366 W Erie. Belgravia's David Ruttenberg said these lots will almost certainly be home to 40-condo developments. [DNA]
