Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
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.
- ◦Development


