New plans have been revealed for the commercial development at 1010 W Madison Street in the West Loop. Located directly on the intersection with N Morgan Street, the proposal will replace a vacant parking lot previously earmarked for a residential building. Now the same developer, Fulton Street Companies, has changed directions from the SCB-designed mid-rise to a new short structure from Gensler.
Site map of 1010 W Madison Street via Google Maps
Plans for the site’s redevelopment were first revealed in 2021, with the original proposal rising 10 stories and named Momad after the intersection it sits on. With no ground-floor retail, the purely residential building would have held 25 for-sale condominiums ranging from one- to four-bedroom layouts. However due to the declining condo market, the developers have decided to pivot towards the new use.
Rendering of 1010 W Madison Street by SCB
The 17,000-square-foot lot will now become a 40,000-square-foot bath house in partnership with New York-based Bathhouse. Following the success of similar companies like Aire, this new outpost will rise two stories with concrete arches and opaque windows on the outside. Inside will be the large spa, multiple pools, restaurant, and more as well as a large rooftop pool and deck.
Rendering for 1010 W Madison Street by Gensler
Further design work is needed on the property, with a revised budget still unknown. Given it will also forgo ground-floor retail, the new proposal most likely will not require any additional zoning changes. Currently construction is scheduled to commence in the first quarter of 2024, with an anticipated opening date of spring 2025 according to Crain’s.
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A bathhouse is cool, but why can’t it be part of an awesome new mixed use building instead of this single use dud?
“A bathhouse is cool, but why can’t it be part of an awesome new mixed use building instead of this single use dud?”
The market is beyond dead. High interest rates, low population growth, blue city issues and a speculative land bubble have made new condos uninvestable here for the foreseeable future. Even the apartment bubble is bursting as the pipeline of reits, funds and investors struggle with higher rates and prices that dont rates of return that arent working at these valuations. Everything you see going up right now that makes it look like everything is ok was planned and financed 3 – 4 years ago.
“ RIGHT!…. And, besides, The West Loop is steadily becoming more and more like Chicago’s other ‘ manhattianized ‘ areas with all of the gleaming new high rises dwarfing what’s left of the (former) low-rise industrial heritage structures that distinguished The West Loop from others. Paraphrasing an old saying ‘ There’s less ‘ there ’ There ’ . ”
While this a dud building, it’s replacing a vacant parking lot. Not much ‘there’ there to begin with.
the city overall may be seeing low population growth but this and the surrounding neighborhoods are relatively booming
Call in sick from work on a sunny day, get a day pass for the rooftop pool, day drink, and then Uber home. This development will give me more personal happiness than looking at another 30-story apartment ever would.