The River North side of LaSalle Street is where it’s at these days. Less than a week after a public meeting was held for two new residential towers proposed for 720 North LaSalle Street and 167 East Erie, another residential building is on offer.
Word about the 11-story building being developed by Akara Partners became public in an e-mail from 42nd Ward Alderman Brendan Reilly’s office. 707 North Wells will have 51 residences over two floors of parking, and one floor of retail. The retail space amounts to 4,600 square feet.
It fits into the current DX-5 zoning already in place for this location, so it will go up without public input. Not that it seems to matter. As we reported last week, the people who live closest to this location are largely in favor of new development and bringing more residents into the area. What’s in this location right now is a couple of unremarkable one-story retail buildings that went up around 1904 and have seen better days.
The new 707 North Wells building is on the same block as the 720 tower, and across the street from the 167 tower. So if it gets built in the same time frame, there could be one heck of a collection of cranes for construction equipment enthusiasts to drool over.