Chicago City Council approves CEDARst Companies' 32-story, $155 million mixed-use tower at 1338 W. Lake, featuring 321 residential units and 7,200 square feet of retail.
The Chicago City Council has officially approved the rezoning for a new 32-story mixed-use development at 1338 W. Lake in the Fulton Market neighborhood. Developed by Chicago-based CEDARst Companies, the project replaces a former Hindman Auctions site acquired for $6.5 million in 2025. The building will rise 364 feet, housing 321 residential units—including 65 affordable units—alongside 7,200 square feet of ground-floor retail and 164 parking spaces.
Designed by SCB, the structure features a six-story podium with residential liners and a glass-and-metal tower massed in a pinwheel configuration. Amenities include dedicated spaces on the seventh and eighth floors and a rooftop-level floor with an outdoor deck and pool. Following this approval, the developer intends to break ground in Q4 2026, targeting a Q3 2028 completion date.
Development is active across an entire city block in Chicago's Fulton Market, with ongoing construction at 900 W. Fulton.
Foundation work is underway for a new five-story mixed-use development at 4650 North Magnolia in Chicago's Uptown neighborhood.
Chicago City Council approved a package of development measures including a 64-unit supportive housing project and the $500M first phase of the 1901 Project.
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