Gallery 400 is going be a work of art.
The new residential project in Chicago’s River North area is testimony that the neighborhood, a center for art galleries, is also a mecca for residential development. Both forces come together in Gallery 400’s sales center, which will display the works of local artists.
Located at 400 W. Ontario St., Gallery 400 is planned for 102 units by the developer, Chicago Capital Consultants. They will be in an existing seven-story loft building and in an 18-story structure to be constructed.
More than 40 floor plans will be available.
The two-bedroom units in Phase 1, the loft building, will have exposed brick walls and ductwork, a balcony or roof deck and two baths. They will range in price from $214,000 to about $360,000 and in size from 1,200 to 1,900 square feet. Ten lofts will be on the sixth and seventh floors of the building, which dates from the early 1920s.
Studio, one-, two- and three-bedroom condos in the high-rise have from 662 to 2,000 square feet and are priced from $121,000 to $510,000. Featured will be two floors of loft-style residences, 10 floors of condominiums and a penthouse.
The first occupancies may be as early as next spring, according to Jeffrey Gelman, president of Chicago Capital Consultants.
Gallerey 400 will have 170 parking spaces, priced at $25,000. The midrise will contain parking on floors one through five, while the high-rise will have five floors of parking.
Gelman also plans to develop the 8,500 square feet on the ground floor for office and commercial space.
