Ground has been broken on a new Chicago mixed-use property by developer Related Midwest, along with LR Contracting Company and BOWA Construction. The development, at the corner of West Randolph and North Peoria Streets in the white hot Fulton Market enclave west of the Loop, will be the city’s first high-rise project with an African-American Minority Business Enterprise (MBE) co-leading construction.
Offering 300 apartments ranging in size from studios to three-bedroom residences, 900 Randolph will also offer an entire suite of amenities and services. This will be the first major building constructed under new Affordable Illinois legislation. Eighty percent of units will be market-rate, with 20 percent or 60 residences designated affordable.
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On a national basis, 900 Randolph will mark Related Midwest’s third collaboration with Morris Adjmi Architects. The development will be the second for the partnership in Chicago, the first one being the 300-unit Landmark West Loop tower, which opened in 2015 at 1035 West Van Buren St. This is the fourth project in Chicago under the Related Rentals brand, referring to luxury high-rise living, with services and amenities.
Once a district of warehouses that supplied produce to the city’s restaurants and stores, Fulton Market has been transformed over the past two decades into a lively enclave with restaurants and other attractions. The area’s cafes, breweries and cocktail bars, some featuring live music, are intermixed with fashion and furniture boutiques and hotels, as well as corporate and regional headquarters for the likes of McDonald’s, Google, Kimberly Clark and Dyson.
The area is also convenient to the Loop and West Loop job hubs, as well as to major expressways and CTA rapid transit lines and buses. Earlier this year, Peak Properties’ Mike Zucker discussed Chicago’s evolving multifamily marketplace with MHN.