New Apartment Tower Headed to Fulton Market
Posted by Leo Clark. on Saturday, November 13th, 2021 at 2:48pm.
A new apartment tower is slated for Fulton Market, where a developer plans to construct a 27-story building. Plans call for 375 apartments to go in near the corner of Elizabeth and Randolph streets.
Designed by architect and developer Thomas Roszak, crews plan to first demolish some existing low-rise buildings at the site. The new tower is just one of a handful of new apartment developments coming to the neighborhood, which is once again a hot market for real estate in Chicago.
Two other large apartment developments are already under construction along Randolph Street. One plans for 300 new units, while another a few blocks away plans for more than 200. There are also several other developments in the works.
As the industry recovers from the COVID pandemic, the downtown apartment market is once again gaining in popularity. Due to a slowdown in construction last year, it’s likely demand for downtown apartments will outpace supply for at least another year.
The new 375-unit apartment building should be finished by the second quarter of 2023. The same developers recently wrapped up construction on another apartment building close to Millennium Park.
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