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CHICAGO-Bluewater Group 2 Inc. will construct a 15-story building offering 187 condo units, townhouses and ground level in the city’s Edgewater neighborhood. The development, at 5440 N. Sheridan, will be known as Bluewater 5440. Condo units will reportedly range in price from $160,000 to $1.2 million, with townhomes priced from $900,000 and the lower-level homes around $340,000.

“The concept of the building is a glass box that acts to be a tower to mitigate between the high rises to the east and the low density residences on Kenmore to the west,” says Joe King, architect at Booth Hansen, which is designing the project. “It also creates a streetscape of residential units, as opposed to a wall of parking along Sheridan.” Bluewater, the developers, did not return calls for comment.

The building also features three two-bedroom, 2,936-sf townhomes surrounding the 329-spot parking area. Five one or two-bedroom units, ranging in size from 916 to 1,200 sf, are also on the first floor. Above, condo units are available on floors five through 14, with five penthouse units. Condo units will range in size from 589-sf studios to 2,564-sf three bedrooms.

“The developers feel there is a demand in this area based on the fact that it is a unique neighborhood slightly outside of the central core of Chicago,” King tells GlobeSt.com. “There is a captive audience of people who want to live in that area, and not much new housing stock.”

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