search

The Real Deal Logo

Trending

Rent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsSL Green, Vornado kick in $100M to extend 280 Park loanSL Green, Vornado kick in $100M to extend 280 Park loanVictor Sigoura picks up site of failed West Chelsea condo for $87MVictor Sigoura picks up site of failed West Chelsea condo for $87MH-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boom
Development
Chicago

Shapack secures Fulton Market demo permit

In the clear for $135 million apartment tower

Jeff Shapack and a rendering of the planned project at 1353 West Fulton in Fulton Market (Getty, Chicago Department of Planning and Development)

Jeff Shapack and a rendering of the planned project at 1353 West Fulton in Fulton Market (Getty, Chicago Department of Planning and Development)

Social: New Fulton Market project will include 308 residential units and rise 29-stories at 314 feet.

Jeff Shapack can finally move forward with an apartment project in Fulton Market after the city issued a demolition permit.

The one-story masonry building at 1353 West Fulton will be razed to make way for Shapack Partners’ $135 million tower, which is slated for 308 residential units and will rise 29-stories at 314 feet, Urbanize reported. 

Shapack first announced plans for the site in July 2021, about three years after buying the 27,000-square-foot parcel for $8.5 million. Shapack has since amended its plan several times. Before recent changes, the project was set to include three fewer units and one less story.

The development site will include ground floor retail space, 115 parking spaces and 58 bike parking spaces. There will be a mix of studio, one-bedroom and two-bedroom floorplans, with 20 percent of the units being reserved as affordable housing, or priced within 60 percent of the area median income.

Sign Up for the undefined Newsletter

SOM is designing the building, and Taylor Excavating and Construction will handle demolition duties. It’s unknown when construction will begin. 

The development will also meet sustainability goals by achieving a Green Globes 2-Globes certification, the outlet said. There will be 23 parking spaces reserved for electrical vehicle charging and a CTA digital display, while ensuring 80 percent construction waste diversion. 

Read more

Shapack has been one of the most active developers in Chicago’s West Loop area. The firm is building a megadevelopment in River West, which is set to include 1,500 apartments, a hotel, retail and restaurants on 3.25 acres. 

It also wants to take advantage of the new Bally’s casino coming to town by developing a 1,110-unit apartment building near the Freedom Center, where the $1.7 billion casino complex will reside.

—Quinn Donoghue 

Tags
1353 West FultonapartmentDemolitionJeff ShapackMultifamilyShapack PartnersWest Loop