The construction for a 22-story mixed-use building now dubbed “The Lydian” is closing in on completion at 513 S Damen Avenue in the Illinois Medical District. With 279 rental units and 1,000 square feet of retail on the ground level, the 242-foot-tall structure is being developed by Marquette Companies and meant to cater an increasing apartment market amongst medical professionals working nearby.
The City of Chicago has announced a new consolidated program to sell over 2,000 city-owned lots across various neighborhoods in the south and west sides. Focusing on neighborhoods like Englewood, West Englewood, New City, Garfield Park, North Lawndale, and Austin, the program aims at creating an equitable path for property ownership in areas that have long suffered from widespread disinvestment. Dubbed ChiBlockBuilder, it is being led by the Department of Planning and Development and city commissioner Maurice Cox with the blessing of Mayor Lori Lightfoot.
On November 18th the Department of Planning and Development announced a recent City Council decision to award funding to neighborhood grocer Yellow Banana LLC. Yellow Banana will be using the funding to aid in acquiring and rehabilitating a total of six supermarkets on the west and south sides of the city. The grocery stores are all Save A Lot supermarkets and have been acquired via $13.5 million in Tax Increment Financing (TIF).
The tower crane stump and installed foundations can be seen at 225 N Elizabeth Street, set to give way to a new 28-story, 314-foot building in Fulton Market District. Developer Sterling Bay and partnering private equity firm Ascentris are behind this mixed-use project, which will provide 350 new apartment units atop ground-level retail.
The Chicago Community Development Commission has approved initial funds for the redevelopment of the structure at 240 N Ashland Avenue in the West Loop. Located on the southwest corner with W Fulton Street, the famed clocktower building has sat vacant for a few years and is being proposed to become the new home for local incubator mHUB. The non-profit company themselves is behind the efforts, and while no architect has been revealed for the project, a few renderings have also been revealed.
