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Shapack Plans 2,200-Plus Apartments Between Fulton Market, Bally’s Site 

Shapack Partners intends to build more than 2,200 apartments and a hotel on a series of sites near Fulton Market and the proposed Bally’s casino, Crain’s Chicago Business reported. In one of the land-use applications Shapack is submitting to City Council this week, the developer aims to transform a property along Grand Avenue with a 1,110-unit apartment building rising 600 feet and a 141-key hotel.  

Separately, Shapack proposes to redevelop a trio of sites with 1,159 residential units, as well as ground-floor retail space and a small amount of office space. 

The collection of projects, which require City Council approval, amount to one of the most ambitious bets on a downtown apartment market that has rebounded from early COVID-19 pandemic devastation, Crain’s reported. It would further establish the area between Fulton Market and the North Branch of the Chicago River as a burgeoning new downtown neighborhood. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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