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Highlights
A venture of Chicago-based Honore Properties and Elmhurst-based Peerless Development is proposing a 28-story, 340-unit apartment building at 1415 North Dayton Street in Chicago’s Lincoln Park.
The developers shifted their plan from converting the existing four-story loft office building to a full teardown to build a high-rise, which was made possible by stitching together air rights from three nearby properties.
The roughly $145 million project, which will include 68 affordable units (20 percent of the total), is awaiting City Council approval in March, with construction planned to start this fall, with the first apartments completed in spring 2028.