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.
With its structural work now above ground level, the planned 27-story development at 160 N Elizabeth Street has received its full construction permit in West Loop. Prior to construction, this parcel along the Randolph Street corridor was previously occupied by a collection of low-rise masonry buildings. This 293-foot-tall replacement will have a dramatic presence as one of the largest new developments contributing to West Loop’s rapid urbanization.
The City of Chicago and Mayor Lori Lightfoot are celebrating two years of the Invest South/West initiative across the city. The program launched in 2019 with $750 million in public funding for projects across 12 commercial corridors in 10 south- and west-side communities aimed at creating jobs, improving safety, and providing housing options. With many winners announced in the last two years, the projects have also spurred plenty of private developments in areas being reinvigorated by the program.
Structural work can be seen for 808 N Cleveland Avenue, a 23-story mixed-use development in Near North Side. At a height of 284 feet, the DAC Developments project is one of the taller recent projects to kick off in the area, helping to add additional density along the Chicago Avenue corridor. Since the last update, the remaining foundation work has taken place, while the core and superstructure have begun to climb above grade.
Initial foundation work is progressing at the site of Madison + Carpenter, a six-story mixed-use building getting ready to rise at 6 N Carpenter Street in West Loop. ZSD is the project developer, whose plans for the boutique building will comprise of ground-level retail, above which will be 13 condominium residences. These residences will range from four to five bedrooms and from 2,400 to 3,800 square feet. Prices, meanwhile, will fall between $2 million and $3 million.