Quickly rising into the 8th place of this year’s countdown is the mixed-use tower at 160 N Morgan Street in the West Loop. Located just north of famed W Randolph Street in the growing neighborhood, the project recently had its first pieces of facade installed as it grows next to neighborhood stalwart Federales who just announced a Logan Square outpost. Developer Sterling Bay partnered with the Colorado-based equity firm Ascentris, both of which are also working on the 11th place of the countdown 225 N Elizabeth nearby, with bKL Architecture leading the design.
With a masonry-clad podium and expressive Y-braces holding up the tower above, the building will rise 30 stories and 350 feet in height in the industrial neighborhood. Boasting nearly 3,000 square feet of divisible retail and a small entry plaza, the ground floor will welcome residents to a small lobby, 153-bicycle parking room, and a ramp up to the garage above. The floors above will hold an 89-vehicle parking garage and be topped by a large outdoor deck, over which the smaller portion of the structure above will hang over with a ceiling mural visible from street level.
The upper floor will hold 282 residential units made up of studios averaging around 550 square feet, convertibles averaging 630 square feet, one-bedrooms averaging 750 square feet, two-bedrooms averaging 1,150 square feet, and a handful of three-bedrooms as well. Of these 28 apartments will be considered affordable with Sterling Bay contributing $5.2 million to construct affordable units at the SL Solar Lofts in Douglas to make up for the rest. All on-site residents will have access to various amenity spaces including a fitness center, lounge, and rooftop pool.
Those who chose to not own a car will have direct access to the CTA Green and Pink Lines at the Morgan station just a few steps away along with multiple Divvy stations and bus service for CTA Routes 8 and 20 within a short walk as well. After securing funding with the Chicago-based CIBC Bank USA earlier this year, the $82 million tower broke ground this fall with a joint venture between Walsh Group and BOWA Construction executing the work, with an expected completion date of late 2023.
Countdown Comparison Corner (Spot #8)
The next building in the countdown comparison is the planned supertall at 262 Fifth Avenue in NoMad, Manhattan. Developed by Five Points Development, the 1,000-foot tall edifice has been designed by Meganom and SLCE Architects and will include 41 condominium units atop 11,000 square feet of retail.
With core work now rising above grade and M & Associates Construction Management serving as the general contractor, a completion is expected for the latter half of 2024.