Shapack offers apartments, a hotel near the casino site
A major Fulton Market developer plans to build more than 2,000 apartments and a hotel next to Chicago’s upcoming $1.7 billion Bally Casino.
Shapack Partners is filing a zoning application to develop a 1,110-unit apartment building along Grand Avenue between Desplaines Street and Union Avenue, which a Shapack firm purchased for $25 million last month, Crain’s reported. The development will rise to 600 feet.
Plans also call for the redevelopment of a six-story building at 509 Union Avenue into a 141-unit hotel. The apartment building will be built along Desplaines, where the buildings would be demolished to make way for a denser tower.
Shapack also filed a separate zoning application to redevelop three sites near the intersection of Milwaukee and Union Avenues and Hubbard Street. The plans for this development call for three buildings with a total of 1,159 residential units, as well as commercial space on the ground floor and some offices.
The proposals, which will require City Council approval, are part of a wave of apartment projects near the Chicago Tribune’s Freedom Center. Council has already approved Onni Group’s plan to build around 2,700 apartments on the southern end of Goose Island, just north of the casino site.
Shapack is best known for developing high-end office buildings, hotels and apartments in Fulton Market, including the Soho House hotel and private club, the Parker Fulton Market apartment building and a 750,000 square foot office building at 167 North Green Street.
The hotel near the casino would be developed before the apartments, similar to how Shapack built Soho House to drive foot traffic to the area, the outlet reported, citing a person familiar with the company’s plans.
The proposals include a total of 454 affordable units, as per the city ordinance.
[CCB] —Victoria Pruitt