Perkins+Will

Chicago is known for its diverse neighborhoods, but it is also a city of 50 wards, each led by an alderperson with their own agenda. As 2025 begins, the city is grappling with budget issues, population growth, and rising crime perception, while aldermanic prerogative—where each alderman has veto power over development in their ward—adds another layer of hurdles to solving these challenges. We’ll examine this issue today through the lens of two major residential projects currently stuck in bureaucratic red tape, including Old Town Canvas, which was blocked by Alderman Brian Hopkins just yesterday.

A demolition permit has now been issued for the 18-story mixed-use high rise at 350 N Morgan Street in Fulton Market. Developed by Sterling Bay, the 288-foot-tall project is set to yield 505,000 square feet of programming, consisting of primarily class A offices and a supplementary 15,000 square feet of programming. Built to accommodate open, creative office layouts, the tower will provide its tenants with 30,000 to 45,000-square-foot floor plates.