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North Wells Snaps Up River North Parcel
North Wells Capital has expanded its development portfolio with a surface parking lot located at 320 W. Huron St. between Orleans and Franklin streets. The half-block site is among the few remaining large land sites in River North.
Deal terms weren’t disclosed. The site is located in proximity to two other land sites and several loft office buildings also owned by North Wells affiliates.
“When we learned that the previously-approved condominium development wasn’t moving forward, we felt like this site was so strategically important to our portfolio that we just had to take a run at it,” said Jim Fox, North Wells’ CEO. “In the coming months, we’ll choose a specific vision for the site that promises to bring new energy to our already extensive presence in River North.”
The land site is approximately 32,500 square feet, and is zoned DX-5. It can accommodate high-rise, mixed use buildings.
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