Foundation work begins on office/residential buildings at Hubbard & Wells
22-Aug-16 – Work has started on the 23-story residential building in River North around which L tracks will curve. A building permit was issued on June 30 for the foundation of Hubbard and Wells Towers, along with framework, pipes, conduits, and ducts up to the fifth floor. The estimated cost of this stage is $2 million. A photo by the architectural firm Hirsch Associates, LLC, shows a drilling rig in place on July 27. The rental building will offer 193 apartments, 6,000 square feet of retail space on the ground floor, and parking for 91 cars. East of the residential building will be a nine-story office building with 41,000 square feet of rentable space. The developer, Centrum Partners, has a contract to purchase from Chicago Transit Authority land below the S-shaped tracks. What it can’t buy from CTA, Centrum will pay to improve. The company says it will contribute $1,166,000 to CTA to help make improvements. Previous story: Rental projects more easily financed, says Hubbard & Wells developer |