28-Story Apartment Tower Proposed for Lincoln Park as Neighborhood Development Booms

By Socialhood News · Il/Chicago/Lincoln Park · February 6, 2026

A local development team has unveiled plans for a striking 28-story apartment tower in Lincoln Park, adding to the area's growing skyline. The venture between Chicago-based Honore Properties and Elmhurst-based Peerless Development is seeking city approval for a 340-unit rental building at 1415 N. Dayton St., currently home to a four-story loft office building.

The proposed design features a glass tower rising from a six-story masonry platform that will house amenities including a fitness center, coworking space, and courtyard. The development will include 68 affordable housing units, representing 20% of the apartments, while the remaining units will be market-rate rentals. Developers are optimistic about receiving City Council approval in March, with plans to begin demolition shortly thereafter, start construction in the fall, and welcome the building's first residents in spring 2028.

"Supply in Chicago is already constrained," said Michael Shenouda, founder of Honore Properties. "Lincoln Park in particular, there hasn't been a lot of new development." The area near the North Branch of the Chicago River has become increasingly attractive for development since zoning restrictions were relaxed in the formerly industrial district, adding residential options alongside retail in the popular Clybourn Corridor. Lincoln Park residents interested in learning more about this and other neighborhood developments can attend upcoming community meetings or contact the Lincoln Park Chamber of Commerce for information.

Sources:
1. https://www.chicagobusiness.com/commercial-real-estate/apartment-tower-pitched-north-dayton-lincoln-park