City Council approves Kinzie/Morgan development

The Chicago City Council has approved VISTA Property Group’s proposal for three towers at the intersection of W. Kinzie St and N. Morgan St. Addressed at 370 N. Morgan, 400 N. Morgan, and 401 N. Morgan, the sites include the Fox Deluxe building, a few small masonry buildings, and two parking lots. The project will retain the Morgan Manufacturing building and the character building at 413 N. Carpenter.

With Gensler in charge of the design, the properties will become home to three mixed-use towers at differing scales. After a series of design changes, 370 N. Morgan, located along the Metra tracks, will be a 34-story tower rising 410 feet, up from 399 feet tall. It will deliver 492 units, down from the original 529, while providing 10,000 square feet of retail space on the ground floor and 225 parking spaces, up from 142, within the podium.

The $151 million tower’s unit mix will include 160 studios, 274 one-beds, 56 two-beds and 2 three-beds. With 98 of those set aside as affordable, the affordable mix will have 32 studios, 55 one-beds, and 11 two-beds.

Across the street at the northwest corner of W. Kinzie St and N. Morgan St, 400 N. Morgan will rise 41 stories and 478 feet, up from 450 feet. The unit count has held steady at 478 units and will have 4,800 square feet of retail space. The parking count has been increased from 123 spaces to a higher total of 192 parking spaces.  

Set to cost $154 million, 400 N Morgan will have a unit mix of 151 studios, 269 one-beds, 56 two-beds, and 2 three-beds. Out of those 478 units, 96 will be set aside as affordable with a mix of 30 studios, 55 one beds, and 11 two-beds.

The third tower, located at 401 N. Morgan, is planned for a secondary phase of the development and its design has not been finalized. Current plans for its scope envision a 45-story tower that will reach 475 feet tall. Set to cost $143 million, it would hold 480 residential units, a small amount of retail space, and potentially as few as 65 parking spaces.

With City Council approval, the sites will be rezoned from DS-5, C1-5, and M2-3 to a unified DX-7 with a Planned Development designation. To reach an FAR of 11.2, the developer will also pay approximately $13 million into the Neighborhood Opportunity Fund. The $448 million proposal is now fully approved, and the developer can proceed with securing financing and beginning construction.