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Chicago

Chicago Cheat Sheet: Massive Fulton Market food hall coming later this year…& more

Also, study breaks down Chicago’s gentrification

A rendering of TimeOut Market in Chicago (Credit: TimeOut)
A rendering of TimeOut Market in Chicago (Credit: TimeOut)

New Fulton Market food hall to debut by end of year

The Time Out Market food hall is set to open in the second half of this year with 18 eateries, three bars and a demonstration kitchen. The three-floor, 50,000-square-foot food hall at 916 West Fulton Street also will have a rooftop area, retail and an event space. It will seat up to 600 people. [Block Club]

Lagging economy holds back gentrification in Chicago: report

Chicago ranked seventh among U.S. cities for the number of Census tracts that gentrified between 2000 and 2013, according to a new report by the National Community Reinvestment Coalition. Two researchers behind the “Shifting Neighborhoods” study said one main reason for the relatively low ranking is Chicago’s lagging recovery from the recession, since a vibrant economy spurs more housing investment and displacement. Another is the city’s history of racial segregation, which makes some potential buyers reluctant to move into minority neighborhoods and limits the amount of minority displacement. [Crain’s]

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Developer eyes mixed-use development at old Sears site on West Side

Tucker Development hopes to break ground in the next three months on its mixed-use overhaul of the former Sears store and adjacent property at North and Harlem avenues. The Chicago developer plans a total of 286 apartments, 27 townhomes and retail that would include a national grocer and health club. Construction would take 15 months. Alderman Chris Taliaferro (29th) said he plans to hold additional community meetings to review the proposal. [Elm Leaves]

Homebuilder doubling down on Mundelein development plans

K. Hovnanian Homes wants to build a townhome development on 1.8 acres in downtown Mundelein, which the village just bought from a local recycling business. The developer was already in talks with officials to build homes on village-owned land just to the east at 538 North Morris Avenue. Now it’s proposing the townhomes on the recycling center land across CN railroad tracks at Illinois 176 and Seymour Avenue. As part of its proposal, the firm would make a number of nearby infrastructure improvements. [Daily Herald]

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Commercial Real EstateFulton MarketGentrificationMundeleinSears