$44.1 million in construction financing secured for 310 W. Huron

Chicago developer ZSD and joint venture partner Third Coast Real Estate recently announced they have secured $44.1 million in construction financing for the mixed-use development at 310 W. Huron. Located in River North, the project site is sited along W. Huron St stretching from N. Franklin St to N. Orleans St. 

Arranged by JLL Capital Markets, the project’s financing will include $38.1 million senior construction financing from CIBC and $6.0 million in preferred equity from N3 Capital Management.

Designed by Pappageorge Haymes Partners, the new development will be a nine-story mixed-use building, set to include 149 residential units, ground floor retail space, 21 car parking spaces, and 149 bike parking spaces. 

The building is designed to fill up the entire site except for a small stretch of green space along N. Orleans St as well as a small section of the west end of the site subdivided into a separate parcel. The rectangular volume is broken up with different facade treatments including a black/dark gray standing seam siding, a black/dark gray random pattern box rib metal panel, and brick cladding at the first two floors including at the entry and ground floor duplex units.  

The ground floor of the building will have two retail spaces fronting N. Franklin St and turning the corner to face W. Huron St, with the residential entry to the west of the retail. The entry will include a lobby, office space, package room, mail room, and bike rooms. The west end of the ground floor will have 11 duplex units that will include outdoor private terraces that both face the street and the alley. The outdoor spaces are recessed and separated from the sidewalk with screening and planters. 

With a total of 149 residential units, the project’s unit mix will include 48 studios, 78 one-beds, 12 two-beds, 7 one-bed duplexes, and 4 two-bed duplexes. Residents will have access to an amenity level on the top floor of the building with an indoor resident lounge, private lounge, coworking space, fitness center, and an outdoor amenity deck with lounge seating, fire pits, and grill areas.

With the caisson permit, foundations/superstructure permit, and full building permit already issued, ZSD, who is also serving as the general contractor, has all the necessary permits in hand and construction is already fully underway. Completion is expected in March 2027.