West Loop Development Boom Still On-Track
Posted by Leo Clark. on Friday, October 8th, 2021 at 12:25pm.
Despite questions over the pandemic and office space demand moving forward, it appears the Fulton Market building boom is set to continue, according to a recent report from Block Chicago.
Earlier this year, Chicago’s Committee on Zoning lifted a ban on residential development north of Lake Street, providing new opportunities for both developers and new home owners and renters to become part of Chicago’s hottest neighborhood.
For years, residential construction was prohibited around the Kinzie Corridor Overlay District near Fulton Market thanks to all the industrial companies and meat packing facilities that once dominated the landscape.
That landscape, however, has since evolved and not Fulton Market is where you’ll find many of the city’s trendiest restaurants, loft-style offices, and an increasing number of luxury residential developments as well.
Meanwhile, a 19-story condo building across from Mary Bartelme Park and a 12-story apartment building near Union Park are also in the works for the Fulton Market / West Loop area, with both granted approval earliest this year as well.
According to separate reports, the new condo tower will feature 80 units and be priced somewhere in the $600-$700 a square foot range, while the apartment tower will include 210 units and also first floor retail space.
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