Chicago-based The Habitat Company has announced it has closed on the acquisition of 344 N. Canal St. in the Fulton River District. Planned as a joint venture between The Habitat Company and Diversified Real Estate Capital LLC, construction is expected to begin this spring on a long-planned 33-story, 343-unit tower.
Located on the west side of N. Canal St, between W. Kinzie and W. Fulton Streets, the 344 N. Canal site is currently home to the Cassidy Tire building. Demolition of the five-story Cassidy Tire building is expected to commence this spring, followed by a groundbreaking for Habitat’s new building.
Designed by Solomon Cordwell Buenz, the new 375-foot mixed-use tower will mark the latest luxury residential project for Habitat in the neighborhood. Upon completion, the building will feature a mix of studio, one- and two-bedroom units as well as ground floor retail space. Residents will have access to a robust amenity package of indoor and outdoor spaces as well as parking for 123 cars.
Permits for the demolition or new construction have yet to be filed. A completion timeline for construction is currently unknown.