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.
Crown installation can be seen for the 60-story Salesforce Tower at 333 W Wolf Point Plaza in River North. The mixed-use, primarily office tower is the third and final phase of the Wolf Point masterplan, developed by Hines in partnership with the longtime landowner Joseph P. Kennedy Family. At a height of 850 feet, the tower makes a substantial appearance on the northwest corner of the skyline, particularly when looking southeast along the Kennedy Expressway.
An official groundbreaking has been held for the mixed-use development at 1134 S Wood Street in the Illinois Medical District. Located near the intersection with W Roosevelt Road, it replaces an existing surface parking lot belonging to one of the developers. That being the Chicago Lighthouse, a local non-profit, who is partnering with Brinshore Development and Landon Bone Baker Architects on the first-of-its-kind building.