Exciting news reported from Crain’s Chicago today about sales finally getting under way next month at an impressive 41-unit condo conversion over at a River North industrial building.
The property, located at 678 N. Kingsbury, is part of a project that will involve developing six brand new penthouse condos, wrapping the existing structure in a chic glass facade, and constructing brand new units in both the existing building and also in a brand new structure that will be located on an adjacent parking lot that's currently there now.
Got all that?
We know, it might sound confusing, but the rendering above should help answer what questions you may have.
Being called The Ronsley, this trendy new condo development will command prices that are reportedly between $889,900 and $5.4 million—a price range that’s pretty steep and almost nearing the price-per-square-foot mark of the record breaking sale over at Trump Tower last week.
However, condos for sale at The Ronsley will of course be finished (the Trump Tower penthouse was a raw space), and as mentioned in the Crain’s report, it’s going to be an ultra-luxurious building and one of the first Soho-New York style loft developments in all of Chicago.
Three of the six penthouse lofts at 678 N. Kingsbury have already been pre-sold, enough to obtain a construction loan, and construction for the new River North loft project is set to begin sometime in February.