RDM Companies Secures Permit for 121 Unit Vision II Tower in Wicker Park

• RDM Companies received approval for a 121 unit residential tower in Wicker Park
• The 13-story project carries a reported construction cost of $38 million
• The development will include 25 affordable units and on-site parking

What RDM Companies is building in Wicker Park

The City of Chicago has issued a construction permit for Vision II, a new residential tower at 1628 West Division Street. The project is being developed by RDM Companies and will rise 13 stories with 121 rental units. The development will be built on a surface parking lot next to Vision I, a previous project completed by the same developer in 2021. This expansion signals a continued commitment to scaling their presence in the Wicker Park submarket. Units will range from studios to three-bedroom layouts, with sizes between 405 and 1160 square feet, targeting a broad renter base.

What the scale and pricing strategy signal

The project carries a reported construction cost of $38 million and includes 25 designated affordable units. This mixed-income approach aligns with ongoing city requirements while allowing developers to maintain overall project feasibility. A first-floor parking garage with approximately two dozen spaces is also included, adding convenience in a dense, transit-rich neighborhood. Amenities such as a rooftop deck and fitness center position the building to compete with other new construction assets in the area.

What this means for Wicker Park multifamily demand

Wicker Park remains one of Chicago’s most active rental markets due to its walkability, retail density, and strong transit access. The site sits near the Milwaukee Blue Line station and several major bus routes, making it highly attractive to renters. By adding another 121 units next to its existing property, RDM Companies is doubling down on a neighborhood that continues to show strong leasing demand. Projects like Vision II highlight the trend of developers building clusters of assets in high performing submarkets to maximize operational efficiency and long term value.

What to watch as construction moves forward

Although permits are now in place, it is not yet clear when construction will begin. A tower crane permit has been filed, signaling early movement toward development. For investors, this project reflects continued confidence in Chicago’s multifamily sector, particularly in neighborhoods where demand remains consistent and supply can be absorbed.