2 Tower Project Approved by Chicago City Council

The Chicago City Council has given the green light to a major two-tower development at 170 N May Street and 175 N Racine Avenue in the bustling Fulton Market district. This approval marks a significant milestone for Chicago-based LG Development, which has pivoted from previously announced plans to a more ambitious proposal designed by bKL Architecture. The project will transform nearly a full block, bounded by W Lake Street to the north and W Randolph Street to the south, into a vibrant mixed-use community. Let’s take a closer look at what this exciting development entails.

Project Overview

The project is divided into two phases, with each phase corresponding to a separate tower and shared amenities. Here’s a detailed breakdown of what to expect:

Phase One: Tower at 170 N May Street

• Height and Structure: The first phase will feature a 25-story tower standing 315 feet tall, complete with a four-story podium running the entire block length of May Street.
• Podium Features: The podium will be anchored by a 20,000-square-foot grocer, rumored to be a Trader Joe's, situated on the corner of Randolph Street. Additional retail spaces and a 252-vehicle parking garage will also be part of this phase.
• Residential Units: The tower will house 287 residential units, ranging from studios to three-bedroom layouts. Of these, 57 units will be designated as affordable housing, meeting the city's Affordable Requirements Ordinance (ARO).
• Design Elements: To break up the long street wall, the mid-block residential tower will extend its glass façade to the ground, effectively splitting the podium into two portions with distinct designs. The structure will also include corner balconies, terraces, and various amenity spaces for residents.
• Amenity and Pool Deck: The podium will be capped by a large amenity and pool deck, designed to be shared with the taller tower in the second phase.
  

Phase Two: Tower at 175 N Racine Avenue

• Height and Structure: The second phase will bring a taller 38-story tower, reaching a height of 450 feet. This phase will commence after the completion of the first tower.
• Retail and Parking: The ground floor will house an additional 3,300 square feet of retail space. The tower will also include 257 parking spaces within its lower levels.
• Residential Units: The taller tower will contain 380 residential units, with 76 of them designated as affordable housing. The design of the tower features staggered setbacks, which provide multiple terraces and amenity spaces.
• Shared Amenities: Residents of both towers will share the podium’s large amenity and pool deck, offering a cohesive living experience across the development.
  
  

Site Layout and Design

Chicago Yimby reports that the nearly full-block site will be divided into two phases, with distinct design features to differentiate the buildings. The longer podium façade along N May Street will be broken down with a brick design for the grocer and southern portion, while the northern portion will feature a metal façade, referencing the industrial qualities of the nearby metal L track structures. This strategic design choice helps to balance the massive street wall, making it more visually appealing.

Landscape and Streetscape Improvements

With Confluence serving as the landscape architect, the development will introduce significant streetscape enhancements. These include reclaiming some angled parking spaces along W Randolph Street to make room for plantings and outdoor seating areas. Curb bump-outs will be added along W Randolph Street and W Lake Street, providing more space for pedestrian activities. Seating elements with planters will also be included under the L tracks, creating inviting community spaces.

Development Timeline and Budget

The total cost of this ambitious development is estimated at $300 million. LG Group aims to break ground on Phase One in Spring 2025. Phase Two will begin after the first tower is completed, although a precise timeline for the entire project is yet to be announced.

This two-tower development at 170 N May Street and 175 N Racine Avenue is set to be a transformative addition to the Fulton Market district. With its strategic location, thoughtful design, and a mix of residential, retail, and community amenities, the project promises to be a vibrant hub for residents and visitors alike. For construction workers, the project represents a significant opportunity to contribute to a landmark development in one of Chicago’s most dynamic neighborhoods. As LG Development moves forward, the skyline of Fulton Market is poised for yet another remarkable change, with cranes set to dominate the landscape once more.

This development not only signals a new chapter for the area but also highlights the ongoing evolution of Chicago’s architectural and urban landscape. With approvals in place and a potential start date in sight, all eyes will be on Fulton Market as it gears up for this significant transformation.

DataBid is currently reporting on this project - 170 N May St. - 175 N Racine Ave Two Tower Mixed Use Development Fulton Market - Chicago  (0013083024)