Belgravia, LMC Acquire Land for Triangle Square Mixed-Use Project
The development in Chicago’s East Bucktown neighborhood will include condominiums, apartments, retail and office.
CHICAGO, IL—Chicago-based Belgravia Group and LMC, a wholly owned subsidiary of Miami-based Lennar Corporation, have acquired 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. The development is located at the intersection of Webster and Elston Avenues in Chicago’s East Bucktown neighborhood, and adjacent to the 70-acre Lincoln Yards development.
“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,” says 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 Ave., the seven-story Triangle Square condominium building will include finely appointed two-bedroom residences priced from $495,000, two-bedroom plus den homes from $595,000, and three-bedroom floor plans from $695,000. 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.
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,” says Goldman.
LMC, a leader in apartment development and management, will develop 300 high-end apartment homes in a separate building at Triangle Square. 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 full performance fitness center, community lounge and work-from-home suites. The rental building also will include approximately 24,000 square feet of ground-floor retail. The name of the community has not yet been announced but will be coming soon.
Triangle Square is near retailers such as Mariano’s, Kohl’s and Best Buy. 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.
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.