Near North Is Building Up: New Construction Permits and Rising Towers Signal a Neighborhood on the Move

By Socialhood News · Il/Chicago/Near North · March 25, 2026

Near North's skyline is getting a little taller — and its housing future a lot brighter. Two active residential projects are turning heads this month, underscoring just how much momentum has gathered in the neighborhood's development pipeline.

First, a long-awaited construction permit was just issued for a new 78-unit mixed-income building at 955 North Larrabee Street (also addressed as 547 West Oak Street). The project, developed by Brinshore and designed by Pappageorge Haymes Partners, carries a reported construction cost of nearly $37 million. After a lengthy permitting process, shovels are expected to hit the ground in late May or early June, with residents moving in as early as 2028. The building will sit within easy reach of multiple CTA bus lines, making it a transit-friendly addition to the neighborhood's housing stock.

Meanwhile, over in River North, the 56-unit rental building at 227 West Chicago Avenue is rising fast. Designed by Jonathan Splitt Architects for Noah Properties, the project has quickly moved from foundation work to vertical construction — with concrete cores already climbing toward their eventual ten-story height. It's one of three projects taking shape within just a four-block stretch of the neighborhood, a cluster of growth that signals real confidence in Near North living.

For residents, this wave of new housing means more neighbors, more vibrancy, and a neighborhood that continues to invest in itself. Are you excited about Near North's building boom? Share your thoughts in the Socialhood comments below!

Sources:
1. https://chicagoyimby.com/2026/03/construction-permit-issued-for-78-units-at-larrabee-and-oak-streets-in-near-north-side.html
2. https://chicagoyimby.com/2026/03/227-west-chicago-goes-three-dimensional-in-river-north.html