Tree Street Group

Tree Street Group is a Chicago real estate developer at 2525 North Elston Avenue, recently rebranded from Weldon Development Group. Principals Rodrigo d’Escoto, Theodore Weldon and Ed Kruschka run an integrated shop that handles financing, design and construction in-house rather than splitting those roles across outside firms. The company reports 8 million square feet built, 4,500 units developed and $4 billion in total capitalization across its principals’ careers. Its current project is 410 North Elizabeth in Fulton Market, a 33-story, 383-unit all-electric apartment tower co-developed with Magellan Development Group that broke ground in July 2026. A geothermal system with about 120 closed-loop bores covers roughly 80% of heating and cooling.

Look past the three principals and the bench explains the integration claim better than the pitch does. Curt Behnke, senior vice president and senior design manager, brings more than 30 years of architectural design and design management from Lendlease Development, Perkins&Will, Engberg Anderson and Skidmore, Owings and Merrill. Kenny Maruyama, senior vice president, has spent 20-plus years in the industry as architect, developer and contractor in turn. Owen Hull, also senior vice president, comes at it from the money side, with a decade focused on capital structuring and financial management.

The principals divide along similar lines. Rodrigo d’Escoto leads strategic capital initiatives and manages investment and partner relationships. Ed Kruschka works on financing and capital raising and sits on both the executive and investment committees. Theodore Weldon brings 33 years and more than $4 billion of developed real estate, having held senior executive posts at Related Midwest, Sailrock Development Limited and, most recently, Lendlease Development.

On the project side, Tree Street describes 410 North Elizabeth as a luxury apartment development in the West Loop, on the block between Ogden Avenue and North Elizabeth Street. Its second listed project is 220 North Racine, a residential tower set on a landscaped plaza with a separate three-story retail building fronting Fulton Market Street. Both sit in the same near-west corridor, a few minutes from the firm’s Elston Avenue office in Logan Square.