Chicago is My Home

22
Apr

Though Scaled Back, Development Still on at Ex-Fannie May Site in Chicago

Author: Adam Fendelman, Category: Business

CHICAGO – Developers will continue to pursue plans to build two residential buildings and a commercial complex at 1137 W. Jackson Blvd. in Chicago, which is the site of the former Fannie May factory.

While the original design included details for 30-story structures, investors have now submitted a request to city officials for zoning authority to erect two, 21-story buildings. The plans also include a nine-story commercial complex that would include a movie theater.

Once crowded with manufacturers, the near west side of Chicago is an increasingly attractive neighborhood to commercial and real estate developers. Luxury condominium complexes and trendy restaurants are springing up next to former meat-packing plants.

The site is owned by a partnership that includes the Chicago-based IBT Group, BlackRock and Marc Realty. The zoning application must make its way through city council approval, which is a process that’s expected to take several months.

By Megan O’Neil