Onni Group lands financing for Halsted Pointe Phase 1

Developer Onni Group has secured $50 million in construction financing for the 46-story mixed-use first phase of Halsted Pointe. Initially approved back in late summer 2021, the overall development will replace the current Greyhound Bus facility at 901 N. Halsted on the southern tip of Goose Island. After demolition permits were issued in May, the site has been cleared in preparation for the new development.

Designed by Hartshorne Plunkard Architecture, the 46-story mixed-use tower has been designed with rectilinear corners instead of the original rounded corners, the building massing will feature an angular expression enhanced with depth and plane changes as the tower rises. The facade will feature angled mullions and balcony walls in a captured glass system that uses two glazing and mullion colors. 

At the base, the sloped site creates a series of lower floors meeting different elevations around the building. The lowest level will be fully submerged and house retail parking and mechanical spaces. The next level up will front N. Halsted St with 13,300 square feet of retail. Above that, the official first floor will have leasing offices facing north, the residential lobby facing east, and 5,600 square feet of retail facing south. 

The building’s podium will span from the 2nd through 5th floors, holding 8 units per floor in the northern section under the tower, and parking spaces in the remaining floor plate to the south. The podium will have a total of 200 parking spaces. A full indoor amenity suite including a spa/wellness space, fitness center, game room, and party room and lounge will occupy the sixth floor, opening up to an outdoor amenity deck that will include a pool. 

With a total of 460 apartments, the typical residential floors will have 12 units per level made up of a mix of one-beds, one-bed flexes, two-beds, and three-beds, representing a shift to larger units with more bedrooms per floor. Every unit will feature a balcony.

Overall, Onni Group is planning four phases of development for the site that is expected to deliver up to 2,650 residential units, retail space, a hotel, and 1,470 parking spaces. Subsequent phases haven’t been fully designed but preliminary approvals suggest a potential for four more towers rising up to almost 700 feet tall.

With permits in the works and financing secured from Otera Capital, construction on Phase 1 is imminent and groundbreaking is set for some time this year. Once work begins, construction is expected to take 24 months to reach completion.