Developer Marquette Companies, Chicago Mayor Lori E. Lightfoot and Alderman Water Burnett, Jr. celebrate the ceremonial groundbreaking for two new apartment projects in Fulton Market.
The developments will total more than 500 units near Union Park, featuring an 11-story 243-unit apartment building across from Union Park at 1454 W. Randolph and a 26-story 278-unit luxury apartment building at 1400 W. Randolph. Both projects are slated for delivery in early 2022.
Marquette President and developer Darren Sloniger estimates the construction projects will generate at least 500 jobs, a noteworthy contribution when many downtown construction projects are on hold. The lack of new apartment projects will result in less competition for the two Randolph buildings when they deliver as they are among some of the only new projects scheduled for completion in early 2022.
To provide renters with high quality mitigation in a post-COVID world, Marquette has included additional COVID related design changes in these new buildings. Both developments will feature touchless controls for elevators and air ionization purification systems designed to reduce the circulation of pathogens. Amenity spaces and fitness centers have been redesigned into smaller areas to restrict physical interaction.
As part of the Fulton Market development plan, Marquette will deliver more than 100 affordable units in the surrounding area, with about half of the affordable units located in a massive redevelopment project Marquette is currently developing inside the Illinois Medical District.
In addition to the new Fulton Market projects, Marquette’s most notable local developments include The Mason, a 14-story 263-unit apartment building at 180 N. Ada and Catalyst a 19-story 223-unit apartment building at 123 N. Des Plaines. Marquette manages both buildings as part of a robust portfolio of residential units across the central United States
This year has presented unprecedented challenges for apartment financers and developers, but Marquette remains committed to providing exceptional apartment rental options in desirable locations like Chicago’s Fulton Market neighborhood.