Both interior and exterior renovations are taking shape for Fulton Market’s old Pennsylvania Railroad Terminal Building, located at 375 N Morgan Street in Fulton Market district. Developed in partnership between Guinness and Fred Latsko, the structure is being converted into the beer maker’s second US location, which will feature a 10-barrel brewery, a pub, and a restaurant.
Initial details have been revealed for a new mixed-use development at 535 N St. Clair Street in Streeterville. Located on the northeast corner with E Grand Avenue, the new structure will replace a three-story 255-space parking garage adjacent to some low-rise commercial and mid-rise residential buildings. Developer Mavrek Development is working with local architecture firm NORR on the design of the mid-rise that will bring new life to an often overlooked intersection.
The famed Water Tower Place Mall at 835 N Michigan Avenue on the Magnificent Mile has been turned over to its lender. Located between E Chestnut Street and E Pearson Street just south of the John Hancock Tower, the retail location has occupied the full block site since the 1970’s. Most recently owned by New York-based Brookfield Properties who operate retail locations across the nation, the mall will now be in the hands of MetLife Investment Management which is a part of the insurance company.
The Chicago City Council has approved the rezoning of an existing development at 6111 N Lincoln Avenue in West Ridge. Located on the intersection with N McCormick Boulevard, just west of the north branch of the Chicago River, the rezoning would allow for further development of the shopping plaza with residential units. Developer Newport Capital looks to combat the rise in vacancies of retail spaces by pivoting the 70-year-old plaza’s purpose.
The Chicago Plan Commission has approved a new retail building at 939 N Rush Street in the Gold Coast. Located near the intersection with E Oak Street, one of the premier retail corridors in the city, the proposal would replace an existing three-story structure built in 1957 that was most recently occupied by Italian fashion brand Brunello Cucinelli and has since moved next door. Developer JMB Realty LLC is working with local design firm Stephen Rankin & Associates on the new storefront.