June 23, 2005
River Village Pointe hits 35% sold
The Enterprise Companies has sold about 35 percent of the 100 condos at its planned River Village Pointe development, the latest in a long series of new projects by Enterprise in the area. This newest mid-rise will be built on the current site of the River Village sales center, at 840 N. Kingsbury, and bring the number of new homes constructed by Enterprise in and around Kingsbury Park to about 1,500.

“That whole area of Larrabee and Chicago is redeveloping, and it started with the Montgomery Ward campus (redevelopment),” said Ron Shipka, Sr., of the Enterprise Companies. “We’ve done a total of 1,500 units there, starting with the Stiffel Lamp factory (conversion), One River Place, Two River Place, River Place on the Park, the townhomes to the north; Hudson-Huron was in there too…About 75 percent of those buyers have moved in.”

The new seven-story design by architects Hirsch Associates is heavy on glass and as you might expect from the name, comes to a forceful point on angled Kingsbury. Columns will mark the building’s pronounced entrance, including one that runs the full height of the structure. Shipka said the design was dictated by the site.

“It’s a very contemporary design, though the units around it are not necessarily contemporary,” Shipka said. “The site configuration really determined the shape of the building.”

The condos will have one or two bedrooms, one to two baths and 900 to 1,626 square feet of space, priced from the low $200s. Many units also have dens. Features include 10-foot ceiling heights, exposed concrete, private balconies or terraces, hardwood flooring in living areas, designer lighting, washer and dryer hookups and high-speed Internet access.

The location, on the Near North Side, was sparse and industrial until a wave of development that began with conversion of the Montgomery Ward & Co. campus into residential and commercial space. Today numerous developments, ranging from single-family homes to highrises, in and around Kingsbury Park are bringing thousands of new residents to the riverfront enclave on the edge of downtown.

What’s the appeal?

“It’s the river and the river walk,” Shipka said without hesitation. “The area has developed, with a grocery store, a 30,000-square-foot health club that’s moving in, dry cleaners and some wonderful restaurants, from gourmet to hamburger places.”

River Village Pointe, www.RiverVillagePointe.com, is scheduled to break ground in late summer or early fall, with first occupancy scheduled for early 2007.