Developer pivots from condos to bathhouse at 1010 W. Madison

Developer Fulton Street Cos. has scrapped plans for a 10-story condominium development in favor of a two-story bathhouse. Located at the northwest corner of W. Madison St and N. Morgan St, the 17,000-square-foot site is currently a surface parking lot.

Designed by Gensler, the new scheme envisions a 40,000 square foot, two-story spa set to be occupied by New York-based Bathhouse. The building is set to include a rooftop restaurant and pool. Renderings show a concrete structure with arched bays filled in with opaque glazing.

The scheme is a distinct shift from the ten-story condo building, a sign of the struggling condo market in the city. If it had been built, the condo building would have had 25 homes, priced from $2 million to $6 million.

With the build-to-suit-lease planned with Bathhouse, construction could begin as soon as the beginning of 2024 with opening targeted for Spring 2025.