This week, North Wells Capital secured an $88 million lease for a planned 16-story retail and office building at 311 W Huron Street in River North. The anchor tenant, a market research company known as Spins, will occupy 48,000 square feet along the top three floors.
Following permit approval from last summer, foundation work can now be seen for LG Development’s HUGO masterplan, which involves the construction of two mid-rise buildings in River North. Located at 751 N Hudson Avenue and 411 W Chicago Avenue, these two mixed-use structures will each stand nine stories and will collectively house 230,000 square feet of programming, made up of roughly 19,000 square feet of retail and 227 apartment dwellings. The two buildings will replace former parking lots, and will be narrowly separated by an existing masonry low-rise building.
With final touches now underway for River North’s six-story 61 W Erie Street, it has been reported that the former condominium development by LG Development will switch in function to a boutique Sonder venue for medium-term stays. The news comes as a bounce back for the hotel industry, with a demand for hospitality-oriented companies like Sonder helping to lead this resurgence.
Initial renderings have been revealed for a new expansive renovation of the Merchandise Mart at 222 W Merchandise Mart Plaza in River North. The renovation comes just a few years after it received major updates including new elevators, monumental stairs, and upgrades to other amenity areas. The new work will be led by New York-based developer Vornado Realty Trust who is also planning some residential towers nearby, while the design is led by the local office of Gensler.
A new sports-themed bar is joining the popular River North neighborhood. The lease was commercially brokered by @properties for the recently-opened Barstool sports bar, at 14 W. Hubbard Street in Chicago. The 8,500-square-foot commercial venue was formerly occupied by Henry’s Swing Club. The location opened on January 8 and is the very first sports bar to open under the Barstool Sports brand.