T
he Murphy Development Group, led by CEO John Murphy, has planned an ambitious residential project in downtown Winnetka, targeting high-net-worth individuals looking for luxurious living spaces without leaving their beloved community. The project, named One Winnetka, will feature a four-story apartment complex with 59 units ranging from $7,000 to over $12,500 per month. The ground floor will have approximately 21,000 square feet of commercial space, while the top three floors will be reserved for residential use, offering one-, two-, and three-bedroom apartments ranging from 1,100 to 1,800 square feet each. The project also includes 152 indoor parking spaces, with 32 designated for public and commercial use as part of an agreement with the village.

    The property was purchased for $14 million, significantly less than half of its prior $29 million debt. The site had seen multiple failed redevelopment attempts since 2007 due to its complex ownership history. The target market for this project consists of individuals transitioning out of their multi-million-dollar homes but wishing to remain within the North Shore community. The project has already attracted interest from high-net-worth individuals seeking convenience and exclusivity, with some even inquiring about reserving units before construction begins.

    The complex will offer a blend of modern interiors and a contemporary Tudor Revival-style exterior, reflecting the architectural heritage of downtown Winnetka. If construction stays on track, the apartments are expected to be ready for occupancy by spring 2027. The project's approval by the village in March has generated excitement within the community, as it promises to bring new life to the previously underutilized site.