Revised Development Plan Filed for 7 W. Elm in Chicago

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Permits have been filed for a revised development plan at 7 W. Elm in Chicago's River North neighborhood. The project site, currently home to a vacant Barnes & Noble building and a Lou Malnati's restaurant, will be redeveloped into a 28-story, 312-foot-tall mixed-use building with 307 residential units and 24,000 square feet of retail space.

Why it matters

The revised plan from Convexity Properties reduces the building's height compared to the previously approved 345-foot-tall scheme, but increases the unit count slightly. The project will replace aging structures with a new mixed-use development, adding housing and retail to the busy River North area.

The details

The revised design by Goettsch Partners features an adjusted L-shaped floor plan, with the residential tower set back from W. Elm St. The five-story podium will occupy the entire site, replacing the existing buildings. The tower will be clad in a different material palette than the podium. The development will include 132 parking spaces, 180 bike parking spaces, and 8 on-site affordable units, with a $4.5 million fee-in-lieu payment for the remaining 23 required affordable units.

• Permits were filed in March 2026 for the revised development plan.
• Construction is expected to begin in June 2026.
• The project is targeted for completion in March 2028.

What’s next

The developer will seek an administrative adjustment from the Chicago Department of Planning and Development to allow for the revised project, avoiding any new review and approvals needed from City Council.