Palais 1418, a four-unit development at 1418 N LaSalle St, would like to claim the Gold Coast as its home neighborhood - but alas, it's a bit too far west, according to YoChicago's comprehensive neighborhood boundary guide.

That puts the project closer to Old Town. All the same, Palais 1418 represents one of a few small-scale luxury projects under development on the Near North Side. We cover high-rise projects like Walton on the Park and 10 East Delaware quite a bit, but some luxury buyers might prefer their new homes to be a bit smaller in scale.

With that in mind, Palais 1418 fits the bill nicely. The project sits on a 33-foot-by-148-foot lot and expects to blend in with the surrounding neighborhood with a European-inspired limestone exterior. This stretch of LaSalle Street feels more like an urban boulevard, with vintage three-flats, tree-lined streets and a planted median.

Each three-bedroom / three-bath home totals about 2,500 square feet and features a wood-burning fireplace, separate wine refrigerator and Juliet balconies.

Developer Ron Ysla (the builder behind Washington Boulevard Lofts in the West Loop) plans to live in the penthouse condo. Three homes remain, each named for a quaint French town: Antibes, Biarritz and Chamonix. All three are priced at $1.25 million, which brings the price-per-square-foot in at just under $500. Deliveries are expected in June.

Rubloff's Clare Zaro has the listing.

See more in Luxury homes.