With the real estate market cooling, some developers have decided to hold back on new projects. Related Midwest is forging ahead with The Peshtigo, a 59-story tower at 515 N Peshtigo Ct, according to sales manager Mike Kelly.
Marketing for the project will start in mid to late August, when a sales trailer will open on-site (now occupied by a parking lot), he says. Groundbreaking is planned just after the first of the year – right around the same time that another Related Midwest project, Canyon Ranch Living Chicago, is slated to break ground.
The Peshtigo, designed by Ralph Johnson of Perkins + Will, will have about 300 units with one to three bedrooms and one to four bathrooms. Parking will fill the first eight floors, and the ninth floor will be devoted to amenities including a pool, a deck, a spa and a gym. Prices will range from the $480s to $4 million, Kelly says.
Renderings are still being finalized, according to Kelly. We’ll post them as soon as we get them.