Trending
Belgravia plans another West Loop condo building
The project that it’s developing with JRG Capital Partners is expected to cost more than $60 million
Developers are planning a 72-unit condo building on a West Loop corner occupied by a dance company for more than two decades.
Belgravia Group and the Huzenis family’s JRG Capital Partners bought the property at 1147 West Jackson Boulevard from Hubbard Street Dance, Crain’s reported. It’s unclear how much the firms paid for the 53,000-square-foot building, but it was put up for sale more than three years ago.
Building the seven-story development, called CA6, will cost more than $60 million, or about $190 per square foot, according to Belgravia co-CEO Jonathan McCulloch.
In the coming weeks, the firms plan to start marketing the condos, which will average about 2,150 square feet and will be priced in the low to mid $800,000 range.
The developers plan to seek a special-use permit to include first-floor parking in the building.
Belgravia has been extremely active in the West Loop and other parts of the city. Along with another partner, Miami-based construction company Lennar Corporation, it recently scored a $69 million loan for the $200 million Triangle Square apartment and condominium complex on the Bucktown-Lincoln Park border near Sterling Bay’s planned Lincoln Yards megadevelopment. [Crain’s] — Brianna Kelly