Social: The new Fulton Market project will include 308 residential units, 29 stories high and 314 feet high.
Jeff Schapak can finally move forward with a condo project in the Fulton market after the city issued a demolition permit.
The single-story masonry building at 1353 West Fulton will be razed to make way for Shapack Partners’ $135 million tower, which is planned to offer 308 residential units and will rise 29 stories at 314 feet, Urbanize Report.
Shapack first announced plans for the 27,000-square-foot site in July 2021, about three years after purchasing the 27,000-square-foot site for $8.5 million. Shapack has since revised its plans several times. Before the recent changes, the project would have been reduced by three units and one story.
The development site will include ground floor retail space, 115 parking spaces and 58 bicycle parking spaces. There will be studio, one- and two-bedroom floor plans, with 20 percent of units reserved as affordable or priced within 60 percent of the area median income.
SOM was responsible for the architectural design and Taylor Excavating and Construction for the demolition. It is not yet known when work will start.
The development will also meet sustainability goals by being Green Globes 2-Globes certified, the outlet said. 23 electric vehicle charging parking spaces and CTA digital display will be reserved, while ensuring the diversion of 80% of construction waste.
Shapack has been one of the most active developers in the West Loop area of Chicago. The company is building a massive 3.25-acre development in River West that will include 1,500 apartments, a hotel, retail stores and restaurants.
It also hopes to take advantage of the new Bally’s Casino coming into town by developing a 1,110-unit apartment building near the Freedom Center, where the $1.7 billion casino complex will be located.
— Quinn Donoghue