The Chicago Plan Commission has approved the 375 N. Morgan Street mixed-use development. The planned 38-story tower, located in Fulton Market and designed by Hartshorne Plunkard Architecture, has gained the green light to transform a vacant lot behind the Guinness Open Gate Brewery.
The development is being planned by Latsko Interests, who has owned the site for many years, and JDL Development, whose involvement here is their first in the Fulton Market neighborhood.
This ambitious project will include:
- 481 feet tower rising 38 stories
- 124 studios
- 238 one-bedrooms
- 96 two-bedrooms
- 2 three-bedrooms
- 460 residential units
- four story podium
Of the residences, 92 units will be considered affordable, with select corner units having access to private balconies. However all residents will be able to utilize a 37th floor amenity space and terraces with views all around.
Chicago Yimby states that the tower's ingenious design involves staggered setbacks to the north, granting the structure a unique aesthetic appeal. Residents will enjoy an array of amenities such as:
- Private corner balconies
- Expansive outdoor deck
- Lounge
- 2,500 square foot Library space
- Nearly 5,000 square feet of commercial space
- Parking garage with space for 138 vehicles
- 6,600 square foot rooftop deck with pool
The building's status as a Transit Oriented Development (TOD) further highlights its commitment to sustainability, offering residents an on-site Divvy station. The development is set to exceed energy code requirements, including measures that will reduce water use, divert construction waste, plant trees, install green roofs, install EV charging stations, and install a CTA digital display.
Adding to the community's vibrancy, the development plans also entail a public park that connects to an upcoming linear greenway along existing train tracks. This 7,125-square-foot plaza will feature:
- Trees and landscaping
- Lawn space
- Picnic tables
- Will eventually connect from Morgan through to Halsted along the train tracks
An anticipated 16,000 square feet of publicly accessible open space will further enhance the neighborhood's urban fabric, alongside active uses along N. Morgan St and the building’s south frontage.
With the project's recent approval, developer LP Holdings 375 LLC is set to move ahead, although further approvals are still required before the project breaks ground. The developer aims to secure necessary entitlements before seeking financing, a strategy that aligns with the current financial lending environment. However, as of yet, no specific construction timeline has been provided.
This landmark project showcases how commercial construction can shape urban landscapes, marrying architectural innovation, sustainability, and community enhancement. As the development advances, it promises to contribute significantly to the local economy and housing market, signaling an exciting era for Fulton Market and the broader Chicago area.
DataBid is currently reporting on this project - 375 N Morgan Street Residential Development Fulton Market - Chicago (0006092222)