Demolition work has now begun for the five-story Cassidy Tires building, located at 344 N Canal Street in Fulton River District. The masonry edifice will be replaced by a 33-story mixed-use tower, under development by The Habitat Company and Diversified Real Estate Capital LLC. Just north of the Metra tracks, the project will yield a total of 343 for-rent units atop ground-level retail.
This week, the Chicago-based developer known as The Habitat Company announced its acquisition of 344 N Canal Street, which will give rise to a new 33-story mixed-use tower in the Fulton River District. The joint project with Diversified Real Estate Capital, LLC is set to yield a ground-level retail component and a total of 343 rental units. Unit layouts will vary in size between studios, one-bedrooms, and two-bedroom residences.
Taking the 24th spot in YIMBY’s countdown of Chicago’s tallest developments, the approved tower at 344 N Canal Street will rise 375 feet above its site in the Fulton River District. The project is located on the west side of N Canal Street between W Kinzie Street and W Fulton Street. The lot is an irregular shape with spurs that extend to N Clinton Street, around a railroad abutment. The new development will replace the existing Cassidy Tire building.