There are nearly enough developers with apartment proposals streaming into River North to fill one of the neighborhood’s thumping nightclubs.
Five projects worth roughly $500 million, including plans by Magellan Development Group LLC and the Kennedy family, would add nearly 1,500 units to the upscale area. The bulging pipeline comes on top of nearly 900 units scheduled to be completed this year, including a 450-unit tower near the East Bank Club by Chicago-based developer Habitat Co.
Combined, the projects would almost double the supply of River North apartments, which is already at an all-time high of about 2,700 units.
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