A new 15-story condo development is poised to break ground at the northwest corner of Erie Street and LaSalle Drive in Chicago’s River North neighborhood.
Known as The Bentham, the project received a construction permit for its foundation and first three floors on Monday. The latest city go-ahead comes roughly 10 months after an earlier permit OK’d the site’s yet-to-appear tower crane.
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.
Sedgwick Properties has been cleared to build a 15-story condo building in River North at a time when most investors are focusing on apartments.
The city granted Chicago-based Sedgwick the initial construction permit for The Bentham at 146 West Erie Street. The permit covers the foundation and first three floors, work that is expected to cost $4 million.
The developer of a River North condo building that got underway this week in River North said that his team "went way overboard on the outdoor space" for its 31 units.
Every unit at Bentham, at Erie and LaSalle streets, will have a large, roofed terrace, and buyers can opt to have them built out with a fold-away glass door separating indoors from out. "Open that up on a nice day, and you won't know whether you're inside or outside," said Marty Paris, president of Sedgwick Properties.
Another luxury tower will soon rise over River North’s kitschy stretch of LaSalle Street. The tower, dubbed The Bentham, will eventually stand at 15 stories and deliver just 31 upscale units, but for now, workers have been cleared to begin laying the foundation for a tower crane at 146 W. Erie Street. Longtime area residents may know the site best as being the former home of old Erie-LaSalle Body Shop, a well known commercial anchor of the corridor for many years. The old body shop was demolished earlier this year to make room for the new tower.
Curbed Chicago announces the arrival of Bentham Chicago to River North. Developed by Sedgwick Development and exclusively marketed by Jameson Sotheby's International Realty, the Bentham is collection of 31 exceptional residences located where the bustling scene of River North meets the iconic elegance of the Gold Coast. Experience incredible art, fine dining, and renowned attractions that serve as the backdrop to your daily pursuits.