New plans have been announced for the mixed-use development at 800 W Lake Street in Fulton Market. Located on the corner with N Halsted Street, the proposed high-rise will replace a now vacant lot that previously held a strip of small commercial buildings including a corner bar. Now after a few years of delay and a sell off, a new team made up of Ascend Real Estate and Intercontinental Real Estate Group has returned with an updated program for the GREC Architects-designed tower according to their recent zoning application.
Originally proposed in 2020 as a 21-story hotel tower rising to 265 feet in height with ground-floor retail, restaurants and no on-site parking, its 476 rooms will have been operated by an undisclosed name brand. The original design featured a nearly site-long tower that cantilevered over its base, with thin orange vertical fins creating an industrial grid in front of the glass facade. However after various delays and changing market conditions the new development team redesigned the property’s program to proceed, similar to yesterday’s changes to 330 N Clark Street.
Now rising 33 stories tall and 390 feet tall, an increase of 125 feet, the development will be anchored by a five-story podium that is set back from the sidewalk creating a small new plaza on Halsted, and a vehicle drop off of Lake Street the west side. The ground floor of the 389,000-square-foot project will contain 3,450 square feet of retail, residential lobby, and entrance to the 106-vehicle parking garage. Varying amenities will be found on the seventh-floor with a large outdoor deck capping the podium as the now thinner tower rises above.
The 26 floors above will hold 349 residential units, although no floor plans were revealed, we can expect a mix of studio, one-, and two-bedroom options based on similar surrounding projects. Of these we can expect 20 percent or around 70 to be considered affordable, made available to those making 60 percent of the Area Median Income or roughly $84,000. While only certain units on the corners or middle of the floor will feature private inset balconies, we can see guardrails on levels 31 and 32 of the structure which will most likely be further amenity spaces.
Future residents who forgo having a car will have access to CTA Routes 8, 20, and 56 as well as CTA Pink and Green Lines at Morgan station within a ten-minute walk, we can also expect a bike room to be available. The application will be reviewed this week before having to go through various city approvals including the Chicago Plan Commission in order to break ground, however it is worth noting the developer currently expects a fall 2025 completion date.