Chicago developer Fred Latsko unveiled a rendering of the apartment tower on tap to accompany the nation’s second Guinness brewery planned for Fulton Market.
The project at 375 North Morgan Street is on the west portion of the site where the brewery, announced in September 2021, is under construction. Latsko said he has been working with the city’s Committee on Design on a plan for the building to rise nearly 40 stories. It will include more than 500 apartment units “with loads of green space,” Latsko said.
It’s another glass high-rise planned for Fulton Market, a neighborhood with a fast-growing office supply that has experienced a surge in its residential development in the pipeline of late. Latsko initially pitched his project as a 33-story office tower but pivoted to apartments amid the pandemic.
The Guinness brewery and taproom is projected to open by St. Patrick’s Day of next year. It follows the Irish beer company’s first location stateside in Maryland. The business signed a multi-year lease for the 15,000-square-foot space, which Latsko also owns.
The project’s apartment units add to the West Loop’s residential development boom. The area had more than 9,000 units planned or under construction – more than the rest of downtown Chicago neighborhoods combined – as of March. Much of that development is in Fulton Market, where both apartments and offices are in demand.
27th Ward Alderman Walter Burnett’s decision to lift a ban on residential zoning in Fulton Market in April 2021 preceded many of those proposals.
Another recently announced project for Fulton Market is emerging developer Joy Jordan’s 17-story mixed-use tower on Sangamon Street, a glass and metal-paneled building that will include office and retail space. That project will be located directly across from the Guinness brewery.
Construction on Sterling Bay’s first multifamily project in Fulton Market is also underway at 160 North Morgan Street, where the firm is building a 30-story, 282-unit apartment and more than 2,600 square feet of retail space. The firm cited Fulton Market’s pipeline of incoming corporate headquarters and the need for more multifamily options for a young, modern workforce as the factors that supported the project.
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