Developer Sterling Bay and partnering private equity firm Ascentris have broken ground on a 28-story mixed-use tower, situated at 225 N Elizabeth Street (formerly addressed as 1245 W Fulton) in West Loop’s Fulton Market District. Plans for this 314-foot-tall edifice include 350 residential apartments atop first-floor retail. Unit sizes will be split into 66 studios, 46 convertibles, 140 one-bedroom, 92 two-bedroom, and six three-bedroom floor plans. To meet the 20 percent affordability requirement under the latest ARO guidelines, the development will have 70 on-site units for residents making up to 60 percent of the area median income (AMI). These units will be distributed as 13 studios, nine convertibles, 28 one-bedrooms, 19 two-bedrooms, and one three-bedroom.
Residential amenities will include a third-floor pool deck with a dog run, as well as various interior common areas on the same level. At the top, meanwhile, will be an outdoor skydeck and an additional indoor lounge. There will also be a 95-vehicle garage and a 199-bike bike room. Both the lobby and entrance to the garage will be accessible from Elizabeth Street, while the retail portion will reside along W Fulton Street.
Chicago-based firm Hartshorne Plunkard Architecture is behind the design. The rectangular building will be wrapped in a glass facade lined with rows of balconies. The outermost layer of the exterior will come with horizontal and vertical dark metal beams to further add a sense of texture. This grid of metal will extend up past the roofline and form part of the amenity penthouse.
Closest transit is available for the Green and Pink Lines at Morgan station via an eight-minute walk east. Meanwhile, bus service for Routes 8, 9, X9, and 20 are all within a 10-minute walk.
McHugh Construction is serving as general contractor for the high rise now underway, expected to cost $110 million. With foundation permits having now been issued, a completion is anticipated for 2024.