Developer looks to sell development site at 527 W. Kinzie

Vornado Realty Trust is looking to sell their development site at 527 W. Kinzie. Located near the Chicago River in the Fulton River District, the piece of land sits at the southwest corner of W. Kinzie St and N. Canal St.

The developer had been planning a 26-story residential tower designed by Pappageorge Haymes Partners. The 290 foot-tall structure would have contained 288 residential units, while providing 81 car parking spaces. The unit mix would have had 35 studios, 35 convertibles, 108 1-beds, 38 2-beds, and 12 3-bedroom configurations. 

With CBRE brokers hired to lead the sale of the surface parking lot, the move comes as developer The Habitat Company wraps up construction on their development at 350 N. Canal next door to the south which will provide 343 units in a 33-story building. 

Vornado has owned the site since 1998 and the site’s most recent progress was in January 2022 when the 26-story residential tower scheme was announced via Alderman Reilly’s newsletter to constituents. 

According to reports from CoStar, it's unclear why Vornado has decided to offload the site instead of moving ahead and a sale price has not been listed.