A full construction permit has been issued for the second phase of a River North mixed-use development.
The permit clears the way for North Wells Capital to build a 15-story mixed-use structure at 311 West Huron Street as part of its Verso development, Chicago YIMBY reported. Construction, expected to cost $88 million, is set to wrap by September 2023.
The building will be 226 feet high and contain 153,000 square feet of mostly office space. Market research company Spins signed on as an anchor tenant earlier this spring with a lease for 48,000 square feet on the top three floors. The office floors will be divided into 16,250-square-foot plates with ceilings just under 13 feet high.
It will be anchored by 8,500 square feet of ground-floor retail and have parking for 130 vehicles.
The first part of the Verso master plan involved renovating and attaching an addition at 306 West Erie Street. The third and final phase will involve a lot at 320 West Huron Street. Details for the third phase haven’t been revealed other than the floor area of 260,000 square feet.
The facade at 311 West Huron, which is being designed by NORR Architects, will have floor-to-ceiling windows and dark metal paneling. It will also include a kinetic metal wall with pieces that move with the wind. A rounded penthouse will top the structure.
Nearby, at 14 West Superior Street, athletic club operator Life Time opened a coworking space in the same building as one of its clubs. The company carved out 39,000 square feet for its Life Time Work flex space that’s used for office memberships that include access to the facility’s gym.
“It’s an arms race for amenities,” said James O’Reilly, president of Life Time work. “Some of the older inventory is really working hard to try and create more of a draw. The office and what a place to work means is undergoing a great rethink at the moment.”
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[CYIMBY] — Victoria Pruitt