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Construction begins on Belgravia’s Triangle Square condos
As part of the $200 million Triangle Square development, Belgravia Group is building a 66-unit condo building and Lennar Corporation is erecting a 300-unit apartment building
Construction is underway on the first residential development in Chicago’s 760-acre North Branch Corridor since the area was rezoned in 2017.
Local developer Belgravia Group just broke ground on a seven-story condo building with 66 units as part of the $200 million Triangle Square project at 1701 West Webster Avenue on the border of Bucktown and Lincoln Park. Its partner, Miami-based Lennar Corporation, will put up a seven-story apartment building with 300 units on the 4.1-acre triangular property bounded by Elston Avenue, Webster Avenue and Metra’s UP-North line tracks, not far from Sterling Bay’s planned Lincoln Yards megadevelopment.
The condominium units range in size from about 1,200 square feet and 2,100 square feet. They start at $516,000 for a smaller two-bedroom unit. More than 25 percent of the condos in the building are already under contract, according to Belgravia.
A third building offering retail space is also planned for the project.
In late 2018, Belgravia and Lennar paid $21.8 million for the two parcels where they’re building the mixed-use residential development.
The firms recently secured a $69 million loan from Wells Fargo for the project.
Triangle Square is expected to be completed sometime next year.