ViCor Development, a builder with a strong track record in Uptown, has broken ground on the Sheridan Grande, a new 70-unit condo mid-rise in the neighborhood, at 4848 N. Sheridan.
At press time, the development had just begun construction and already was 30 percent sold, according to Victor J. Cypher, Jr., president of ViCor. The project is billed as providing downtown comforts in an Uptown location.
“The luxury condominiums at the Sheridan Grande will feature an urban-style brick and masonry exterior reinforced by high-end interior detailing,” Cypher said.
The building has 10 floor plans, a rooftop deck, pre-wiring for cable and high-speed Internet, 12,000 square feet of commercial space and heated garage parking for $29,500 per space. The condos have one to three bedrooms, one to two baths and 864 to 1,684 square feet, base priced from the $190s to the $440s.
Features include balconies, Frigidaire appliances, oak floors in living areas, granite counters, Grohe Eurodisc faucets, master baths with soaking tubs and wall-to-wall carpeting in bedrooms.
“The Sheridan Grande’s spacious residences have incredible views and easy access to Chicago’s lakefront, Uptown’s entertainment district and great transportation,” Cypher said. “A home at the Sheridan Grande will put buyers at the heart of some of the best recreational facilities in the city of Chicago.”
Ald. Helen Shiller (46th), who has gained a reputation as being tough on developers in her ward, praised ViCor’s role in the neighborhood at a ceremonial groundbreaking.
“Victor Cypher was one of the first two developers to participate in the Chicago Partnership for Affordable Neighborhoods (CPAN) program, and he did so voluntarily,” Shiller said. “I appreciate his commitment to the community.”
ViCor is developing the project in conjunction with its partner, Capital Lending Group, LLC, the Elgin-based affiliate of Capital Realty & Development, LLC, a full-service investment and development firm.
The lakefront location has been a key factor in swift sales, according to Melissa D’Angelo, a sales associate at Rubloff Residential Properties, the exclusive marketing agent for the Sheridan Grande, www.SheridanGrande.com. The project sits minutes from the lake, Margate Park, Montrose Harbor and the Sydney R. Marovitz Golf Course. Uptown has seen a burst of development lately with several new bars and entertainment venues complementing the nearby Aragon, Riviera and Green Mill clubs. A mixed-use development that includes a new Borders Books & Music as well as lofts and condos has transformed the busy intersection of Lawrence and Broadway.
“The community has responded strongly to the start of the construction. Pre-construction sales have surpassed 30 percent and buyer traffic has been overwhelming,” D’Angelo said.
A sales center for the Sheridan Grande is located at 4834 N. Sheridan, adjacent to the site.