Plan Commission approves development at 1415 N. Dayton

The Chicago Plan Commission has approved a residential development at 1415 N. Dayton. Planned by Honore Properties and Peerless Development, the project was initially revealed back in February. The project site is located at the northeastern corner of W. Evergreen Ave and N. Dayton St and is occupied by an existing four-story loft building. The developers were contemplating an adaptive reuse of the existing building but will now demolish the building to make way for the new development. 

Designed by bKL Architecture, the new proposal for the site would take shape as a 28-story residential tower with 340 residential units, 164 parking spaces, and 340 bike parking spaces. To meet ARO requirements, 20%, or 68 of the units, will be set aside as affordable. 

On the ground floor, the residential lobby will front both W. Evergreen Ave and N. Dayton St, with bike parking located at the north end of the building. The back side of the ground floor will have mechanical spaces, a losing dock, six parking spaces, and the parking ramp up into the podium. All vehicular access for the building will be off the alley.

The building’s design features a five-story brick podium that will hold the planned 164 parking spaces topped by an amenity deck. Reaching a total height of 331 feet tall, the residential tower will rise above the podium clad in a glass and metal window wall system. The building’s 28th floor will be an amenity level with a rooftop deck and pool. 

To allow for the scope of the project, the developers are assembling air rights from surrounding properties to achieve the density of the proposal. The proposal is seeking to rezone the sites from B2-5 and C3-5 to a unified C2-5 with a Planned Development designation. 

With the Chicago Plan Commission approval secured, the $103 million proposal can seek final approvals from the Committee on Zoning and City Council. The existing building on the site is expected to be demolished within a few months from now and new construction would begin in Fall 2026 with delivery targeted for Spring 2028.