Multifamily N Illinois

Belgravia and LMC close on land for mixed-use Bucktown project

Belgravia and LMC close on land for mixed-use Bucktown project,ph1

Chicago-based Belgravia Group, Ltd. and LMC, a wholly owned subsidiary of Miami-based Lennar Corporation, announced that they have closed on the 4.1-acre parcel of land known as Triangle Square. Belgravia will construct a new mixed-use project that will include 66 condominiums while LMC will develop a mixed-use project that will include 300 apartment homes.

“Closing on this land is the first milestone in ushering this area from its industrial past to its new future as one of the city’s most vibrant live-work-play neighborhoods,” said David Goldman, executive vice president and chief operating officer at Belgravia Group. “We are putting the final touches on our floor plans and look forward to beginning our sales program in January.”

Located at 1701 W. Webster Avenue, the seven-story Triangle Square condominium building will include two-bedroom, two-bedroom plus den and three-bedroom floor plans. Most homes will feature a large balcony, while those on the second floor will include south-facing terraces. For more elevated scenery, residents can use the building’s rooftop deck with views of downtown Chicago. Other amenities include a private fitness center and dog wash station. The Triangle Square condominium building will have 66 indoor parking spaces for residents.

The development is located at the intersection of Webster and Elston avenues in Chicago’s Bucktown neighborhood, and adjacent to the 70-acre Lincoln Yards development. Construction on the masonry and glass condominium building, designed by Chicago-based Sullivan Goulette & Wilson, will begin next summer with first deliveries scheduled for summer 2020.

“With the massive Lincoln Yards district in Triangle Square’s backyard, Bucktown to the west and Lincoln Park to the east, our buyers will be getting in on the ground floor of one of the fastest-growing neighborhoods in Chicago,” said Goldman.

LMC will develop 300 high-end apartment homes in a separate building at Triangle Square where renters will be able to choose from studio, one-, two- and three-bedroom units. Community amenities will include a 30,000-square-foot amenity deck featuring incredible views of the downtown Chicago skyline. Residents will also have access to a fitness center, community lounge and work-from-home suites. The rental building also will include approximately 24,000 square feet of ground-floor retail.

Triangle Square offers close proximity to day-to-day shopping with Mariano’s, Kohl’s and Best Buy just steps away. Residents will be close to the shops and restaurants along Damen Avenue in Bucktown and at nearby Webster Place. Holstein Park, the Clybourn Metra station, The 606 trail and the Midtown Athletic Club also are within walking distance. Easy access to Interstate 90 provides a convenient commute to downtown Chicago as well as the suburbs.

Future plans call for a third building at Triangle Square, which will include office and retail space. The two-story building is marked to start development after the completion of both residential buildings.