Sterling Bay has proposed a 25 story high-rise in West Fulton Market which is located at 1245 Fulton. The 314 foot tall building would replace a vacant lot at the southeast corner of Fulton and Elizabeth. The site is just west of the single-story Revel Fulton event space where rival developer Fulton St. Cos. recently won Plan Commission approval to build a 34 story high-rise with 433 apartments.
An article in Urbanize Chicago states that the proposed development would bring 350 apartments to west Fulton Market.
It's been five months since Alderman Walter Burnett and the Planning Department lifted the ban on new residential development north of Lake Street in Fulton Market, and the apartment proposals just keep coming.
The project calls for the following:
- 350 rental units
- Ground floor commercial space
- Garage parking for 92 cars and 199 bicycles
- Pool deck
- Outdoor pet run on third floor
- Additional amenities on the rooftop
- 70 to 80 percent of apartments will be offered as studios, convertibles and one-bedrooms
- Remaining apartments will feature two-bedroom layouts
Hartshorne Plunkard Architects designed the building which features:
- Glassy tower atop a short podium
- Residential balconies on the east and west faces
- Landscaping along Elizabeth Street
- Residential lobby accessed through small "parklet" along Elizabeth Street
The city requires 20 percent affordable housing and all 70 units will be located on-site. Sterling Bay will work with the department of Housing to build an additional 10 percent of affordable units off-site. The development will also provide a nearly $1.8 million payment to the city's Neighborhood Opportunity Fund.
According to Chicago Yimby, 1245 W. Fulton is the second residential project in the neighborhood for Sterling Bay. At this time, Sterling Bay is seeking zoning approval for a 33 story tower with 320 apartments at 160 N. Morgan Street.
Alderman Burnett has some issues with 1245 W. Fulton's affordable housing scheme and its relatively low parking ratio. The developer will send its proposal to the Chicago Plan Commission in September and if the approvals go through, the project will break ground in the first quarter of 2022.
Choose Chicago reports that at one time the West Loop used to be an industrial meatpacking district, but the area has transformed into a destination for some of the best restaurants in Chicago, a hub for corporate headquarters and the home of an array of exciting boutique hotels.
The West Loop is also home to Greektown, a bustling enclave overflowing with traditional restaurants, bakeries, and delis, and the National Hellenic Museum - the second oldest American institution dedicated to Greek culture.
You can explore the West Loops' art galleries, cool shops and boutique hotels or the Randolph Street Market for unusual vintage and antique finds. In the summer, the market heads outdoors with live music and pop-up bars.
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