This week, the Chicago-based developer known as The Habitat Company announced its acquisition of 344 N Canal Street, which will give rise to a new 33-story mixed-use tower in the Fulton River District. The joint project with Diversified Real Estate Capital, LLC is set to yield a ground-level retail component and a total of 343 rental units. Unit layouts will vary in size between studios, one-bedrooms, and two-bedroom residences.
There will also be a major indoor/outdoor amenity component that will come with a media room, a fully-equipped fitness center and spa, an expansive pool deck with ample outdoor seating, a tenant lounge, a game room, a conference center, and a dog walk.
Solomon Cordwell Buenz is the project architect. The glassy design utilizes a mix of floor-to-ceiling windows and painted metal panels. The tower massing is anchored by two hexagonal towers on each end and broken up by columns of private balconies. There will also be a bike room and parking for 123 spaces.
The building will help further densify the northwest corner of Chicago’s downtown core. Other recent projects within this development surge include Salesforce Tower, 354 N Union Avenue, 369 Grand Avenue, and the recently-proposed 527 W Kinzie Street. This area is already inundated with a variety of public transportation options, including the bus service for CTA Route 56 along with the Green and Pink Lines just to the southwest via CTA L Morgan station.
No permits have yet been filed or issued. Beyond the anticipated 2022 groundbreaking, a complete timetable for the construction is not currently known.