FULTON MARKET — Separate plans by LG Development and Fulton St. Companies for apartment towers and an office building in Fulton Market received approval from the City Council Wednesday afternoon.
Prominent developer LG can move forward with plans for a 20-story apartment building with ground-floor retail at 1150 W. Lake Street and a 33-story building across the street on Lake, May and Randolph Streets.
In total, the two buildings will bring 665 apartment units, 290 parking spaces in the transit-oriented development.
LG Development previously envisioned an office building on the north side of Lake before pivoting to apartments after the moratorium on residential was lifted earlier this year.
The developer of the $300 million project will include 133 affordable units on-site, and pay $2.57 million into the Neighborhood Opportunity fund.
Credit: Chicago Department of Planning/ TwitterJust a block north, Fulton St. Companies received approval for a 34-story apartment tower with ground-floor retail at 1201 W. Fulton Street.
The proposal would bring 433 apartments, a large outdoor plaza, and 80 parking spaces to the corner of Racine Avenue and Fulton Market Street, currently home to Revel Fulton Market event space.
The building will include 20 percent affordable units on-site.
The development team will pay $4 million into the Neighborhood Opportunity Fund in exchange for added density.
Credit: ScreenshotRelated: With Ban On Residential North Of Lake Lifted, Developer Unveils 34-Story Fulton Market Tower
A few blocks west, Fulton St. Companies also received approval for an 11-story, 153-foot tall office tower at 917 W. Fulton Market. It also will rehab a six-story building with loft offices at 900 W. Lake St.
The office building will add 473,000 square feet of office space and feature outdoor terraces, 111 underground parking spaces and 73 bicycle parking spaces.
As part of the project, the developer will pay $4.6 million into the neighborhood opportunity fund for added density.
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