Construction is set to begin in early June for a 16 story commercial building at 311 W. Huron Street in River North. This retail and office building has been planned by North Wells Capital. In February, the developer secured an $88 million lease with the anchor tenant Spins, who will occupy 48,000 square feet of the top three floors of the building.
Chicago Yimby states that the 226 foot tall building will replace a former parking lot just west of the elevated CTA L tracks. The building will feature the following:
- 153,000 square feet will be primarily office space
- 8,500 square feet of retail
- Floor to ceiling windows
- Fully equipped fitness center
- Lounge area
- Various seating alcoves
- Spacious rooftop deck
- A conference facility
- Bike parking
- Parking for 137 vehicles with EV charging stations within the tower base
Norr Architects designed the building which will include:
- Mix of glass and dark metal paneling along the facade
- Curved penthouse enclosure at top of structure
- Kinetic wall along the parking garage floors
The construction is part of a larger complex known as Verso. The first phase of this assemblage was the renovation of a seven-story building and a modern addition at 306 W. Erie Street. With 311 W. Huron as the second installment, the third development will be an even larger building at 320 W. Huron Street. The exact height and number of floors for this future building are not yet known, but the square footage will be 260,000 square feet.
ARCO Murray will serve as the general contractor and the completion date is scheduled for September 2023. Construction and tower crane permits have been filed by not yet issued.
Crain's Chicago Business reports that market research company, Spins will move their headquarters into this building. Spins, which provides market research that health-focused brands and retailers use to boost sales, has signed a lease for nearly 48,000 square feet.
The lease is a big victory for the developer, which has been hunting since 2019 for an anchor tenant to kick off the Huron Street project. The company's growth is welcome news for all downtown office landlords reeling from the space-shedding due to COVID, although the addition of 311 W. Huron to the market will also provide new competition for tenants. Most of the leasing activity completed during the public health crisis has been at new and recently renovated buildings, while older and outmoded properties have suffered.
As part of the new lease, Spins will have signage along the top of the building and has an option to expand within the building.
