Domus Pivots to Apartment Project in Chicago’s Fulton Market

Domus Real Estate Group is pivoting from office to residential in Fulton Market to meet growing demand for rental housing in one of Chicago’s fastest-growing neighborhoods.

The Chicago-based developer filed a zoning application to build a 30-story, 347-unit apartment tower at 215 North Racine Street, replacing its earlier proposal for a 75,000-square-foot boutique office building on the site, the Chicago Tribune reported.

The shift follows a broader trend in Fulton Market, where several developers, including Fulton Street Companies and Onni Group, have swapped office plans for residential projects as remote work cuts into office demand and apartment rents climb.

Fulton Market is the most robust rental market in the city, Domus’ Phillip Ciaccio told the outlet.

The firm’s proposal includes a glass-and-metal design, 88 parking spaces, an amenity deck, and 1,100 square feet of ground-floor retail. The building would also include 70 affordable units, or 20 percent of the total, in line with a city ordinance.

If approved, this would be Domus’ first high-rise. The firm plans to partner with an experienced tower developer and complete the project by the second quarter of 2027, Ciaccio said.

The site, currently a parking lot and three-story residential building, was part of a portfolio Domus acquired in 2018. The firm’s other developments include an office building leased to Kimberly-Clark and smaller residential projects in Wicker Park and River North.

About 1,400 apartments were recently completed or under construction in Fulton Market late last year, according to Integra Realty Resources. However, the pipeline is slowing due to tight lending conditions, rising construction costs and economic uncertainty.

Only one new apartment tower is expected to be completed in the neighborhood by early 2026, with fewer than 300 units projected for all of downtown Chicago this year.

—Rachel Stone