Demolition has begun for 1150 W Lake Street in Fulton Market District, where LG Development Group has planned for a major mixed-use development. Straddling the elevated CTA’s elevated tracks, the two-tower scheme includes an 18-story building at the northern end replacing, as well as a 29-story building the southern end. The shorter edifice will be replacing a formerly vacant lot, while the taller tower will replace multiple single-story masonry buildings that are now being removed.
Rising 330 feet, the south tower will house 486 apartments atop ground-level retail. The 222-foot north tower will house 179 apartments and a section retail component along Lake Street. The tentative layout distribution will comprise of 30 percent studios, 50 percent one-bedrooms, 15 percent two-bedrooms, and the remaining five percent are three-bedroom residences. Of the on-site units, 20 percent (133 units) will be affordable. To meet the city’s newly set target goal of 30 percent affordable units, an additional 67 will be subsidized off site.
The taller tower will offer a pool amenity deck atop its podium, while also providing a new alley between Randolph and Lake Streets that can accommodate retail pop-ups while allowing for public pedestrian access. There will be a total of 29 parking spaces and additional bike parking.
The design by Gensler features a variety of facade treatments made up of brick, metal, and glass. This variation provides the appearance of multiple adjoined buildings all with a cohesive industrial theme. The combined massings will be a major addition to the Fulton Market skyline as it continues its westward expansion.
Closest bus service includes stops for Route 20 via a seven-minute walk south to Madison & Aberdeen. Additional buses within reasonable walking distance include Route 8 to the east and both Routes 9 and X9 to the west. Those looking to board the CTA Green and Pink Lines will find Morgan station via a four-minute walk east.
As of now, full construction permits have been filed but not yet issued. The $300 million construction is expected to reach completion in 2024.