The Real Deal Chicago

JDL, Sterling Bay close to launching One Chicago Square project

The developers applied for the first permits for the project that will bring 2 towers sprouting from a 10-story podium across from Holy Name Cathedral
By Alex Nitkin |
Research by Haru Coryne
December 14, 2018 04:00PM

From left: Howard Blair and Scott Timcoe in front of One Chicago Square

JDL Development and Sterling Bay are preparing to start work on their two-tower One Chicago Square development in River North.

The developers applied for a permit to foundation work on what will be a four-story underground parking garage with 865 spaces, according to city building department records. Above-ground plans call for a 77-story tower and a 50-story tower with a combined 869 units sprouting from a common 10-story podium.

The towers would rise on an existing parking lot at 23 West Chicago Avenue, across the street from Holy Name Cathedral. The Archdiocese of Chicago sold the property to JDL in 2017 for a reported $110 million.

JDL won city approval for the $850 million project in January. In October, Sterling Bay announced it joined the project as a co-developer.

The project brochure advertises 795 luxury apartments, 75 condos and 50,000 square feet of office space. Retail space will include a Whole Foods and a 100,000-square-foot-plus gym.

The complex is projected to open in 2022, with the taller of the two towers set to become the sixth-tallest building in the city.

JDL is nearly finished building out the No. 9 Walton condo tower, whose units have consistently sold for more than $4 million to some of the city’s biggest-name buyers.

Representatives of JDL and Sterling Bay did not immediately respond to a request for comment on Friday.