Glass and metal installation has begun for CMK Companies’ 1400 S Wabash Avenue, a 30-story mixed-use high rise in South Loop. Set to stand 350 feet, the tower will contain a combination of ground-level retail and 299 rental units above. Since YIMBY’s last update, structural work has progressed rapidly, with work now climbing past the 20th floor.
Initial details have been revealed for a new mixed-use development at 415 N Sangamon Street in the West Loop. Located on the corner with W Kinzie Street directly across from the upcoming Guinness Brewery, the new proposal will incorporate the existing multi-story structure on site and occupy the adjacent vacant lot. The developer Fortem Voluntas Partners is led by ex-Sterling Bay leasing agent Joy Jordan. According to Crain’s, they have partnered up with local architecture firm Eckenhoff Saunders on the design of the sleek new tower.
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.
Updated plans have been revealed for the upcoming Bally’s casino at 777 W Chicago Avenue in River West for the Committee on Design. Located on the corner with N Halsted Street, the new development replaces the existing vacant Chicago Tribune print facility after a multi-year selection process. The project itself is being developed by Rhode Island-based Bally’s who recently sold their Las Vegas strip property, they have partnered up with local architecture firm SCB on the design which has seen further development since we last covered the riverfront proposal.
Renovation work continues for the 24-story Victor F. Lawson House at 30 W Chicago Avenue in Near North Side. The Art Deco high rise was originally designed by Perkins, Chatten & Hammond and completed in 1931. Developer Holsten Real Estate will be deconverting the former YMCA from 538 single room occupancy units into 408 affordable apartments. In exchange for keeping all on-site units affordable until at least 2073, the project received both low income housing tax credits and $12.4 million in historic preservation tax credits.
