Chicago Construction News staff writer
The first major construction permit has been issued for the Halsted Pointe development on Goose Island, allowing work to begin on the first of several towers planned for the site.
The permit, issued for 1 N. Halsted St., allows for the construction of the foundation and the first five levels of a 46-story residential tower, according to a report from Chicago YIMBY. The project, led by Canadian developer Onni, will replace a former Greyhound bus facility on the southern tip of the island.
According to permit applications filed for the project, the general contractor for Halsted Pointe is Onni Contracting, which is the in-house construction division of the developer, Onni Group. The architect is Chicago-based Hartshorne Plunkard Architecture (HPA).
The first tower is slated to rise 501 feet and will contain 460 residential units, ranging from one- to four-bedroom layouts. It will be built atop a five-story podium containing 200 parking spaces and 18,900 sq. ft. of retail space.
Onni secured a $50 million loan from Otera Capital and $170 million from refinancing an office building at 200 N. LaSalle St. to help fund the first phase. While a groundbreaking date has not been set, construction is expected to take 24 months to complete.
The project is proceeding under a revised masterplan, designed by local architecture firm HPA, which was approved in April 2024. The changes included a new, boxier design for the towers and an updated address of 931 N. Halsted St. for the first building.
The overall Halsted Pointe development is approved for five residential towers and a hotel. Future phases include:
- Phase Two: Two towers, 42 and 39 stories, with a combined 1,150 units and 500 parking spaces.
- Phase Three: Two towers, 46 and 49 stories, with 1,036 units and 600 underground parking spaces.
- Phase Four: A 10-story hotel with 160 rooms.
The revised plan also reconfigured the site’s layout to expand public parkland along the river, replacing a previously planned market hall. A new pedestrian bridge is also included in the designs. No timeline has been established for the remaining phases.
