7621 Lake Street in River Forest (Credit: Lake and Lathrop LLC)
A joint venture of Sedgwick Development and Keystone Ventures plans a 30-unit condominium building in River Forest.
The long-delayed project at 7601 to 7621 Lake Street from Chicago-based Sedgwick and River Forest-based Keystone goes before the River Forest development review board Thursday, according to Crain’s.
Sedgwick, led by River Forest resident Marty Paris, has completed other multifamily projects in Chicago. It first proposed redeveloping the River Forest site in May 2016.
The five-story building, called RF, would have ground-floor retail along Lake Street, with four stories above of covered balconies. It would replace a couple of existing retail buildings and a parking lot.
Each of the condos would have north-facing terraces, Paris told Crain’s, and second-floor units would also have south-facing terraces. Every unit would have an elevator opening directly into it, he said.
The two-, three- and four-bedroom condos would be priced from just under $600,000 to just under $1.4 million. Sales are being handled by Jameson Sotheby’s International Realty.
Paris said construction would begin later this year and finish late next year. [Crain’s] — John O’Brien