Surprise, surprise—more MAJOR development news in Chicago’s fastest-growing part of town, Fulton Market. According to a recent report from Crain’s, Chicago-based LG Development is now scrapping plans for two office buildings and a hotel and instead eyeing a new vision that would potentially include over 1,000 apartments combined.
The collection of new projects will feature a 20-story, 179-unit apartment tower along Lake Street between May and Racine Streets; a 33-story, 486-unit apartment building along Lake Street and bounded by May, Racine, and Randolph streets; and another 400-unit apartment tower a block away at 210 N. Aberdeen Street.
With so much office space already new to the area, new residential development could soon be widespread thanks to 27th Ward Ald. Walter Burnett lifting a ban on such projects in order to encourage activity post-pandemic.
Just recently, another Chicago-based developer, Fulton St. Cos., submitted a proposal for a 32-story, 433-unit apartment tower just steps from the LG site.
Posted by Leo Clark. on
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