Foundation and superstructure permit issued for 410 N. Elizabeth

A foundation and partial superstructure permit has been issued for the first tower of their two-tower mixed-use development at 410 N. Elizabeth. Planned by Tree Street Group, formerly known as Weldon Development Group, the irregularly shaped lot is bound by W. Ogden Ave to the west, N. Elizabeth St to the east, and Metra rail tracks to the north and south.

With Archeo Design Studio leading the design, the first phase of the development will encompass a 33-story mixed-use tower that will rise along N. Elizabeth St. Rather than a large podium, the building has been designed as a rectangular point tower topping out at a height of 349 feet tall. Its facade will be made up of metal paneling and glazing in a gridded design. The parking floors will have a hybrid of architectural metal screening.

On the ground floor, the residential entry will face east towards N. Elizabeth St with a small corner retail space. Leasing offices, mechanical space, and bike storage will occupy the remainder of the ground floor. The loading dock and parking garage entrance will be accessed via an internal service drive along the north side of the property. 

Above the ground floor, residents will have access to 150 parking spaces and 384 bike parking spaces. The development will include 383 rental apartments, with the project’s unit mix consisting of 38 studios, 87 one-beds, 256 two-beds, and 2 three-beds. To meet ARO requirements, 20% of the units, or 77 apartments, will be designated as affordable at a weighted average of 60% AMI.

The developer recently secured a $102 million loan from Bank OZK to finance the project, and the tower crane permit and caisson permits have already been issued. With the foundation and superstructure permit in hand, general contractor Clark Construction can build out the tower’s foundations and the superstructure through level 7. A timeline for construction has not been announced.