The John Buck Company (JBC) and institutional investors advised by J.P. Morgan Asset Management have closed on the land acquisition of 311 West Illinois Street, otherwise known as 3Eleven.
The project, to be developed by The John Buck Company and designed by FitzGerald Associates Architects, will rise 25 stories to a height of 281 feet, and includes 245 luxury apartments and 3,000 square feet of retail space.
3Eleven will offer several amenities, including bike storage (nearly 200 stalls), smart package storage, and a rooftop tenant lounge with a fitness center and outdoor space featuring hammocks, fire pits, grills, additional dining areas and a swimming pool.
Construction financing will be provided by Wintrust Financial Corporation.
Located on the southwest corner of Illinois and Franklin Street, 3Eleven will feature studio to 3-bedroom penthouse units. Project groundbreaking occurred in June 2016 with anticipated delivery fall 2017.