A foundation permit has been issued for a planned mixed-use development at 626 S. Wabash, previously reported as 630 S. Wabash. Originally revealed in August 2021, the project is a venture between DAC Developments and Melrose Ascension Capital. The project site is a vacant lot just south of E. Harrison St, fronting S. Wabash Ave and backing up to the CTA L tracks above S. Holden Ct.
With a design from Antunovich Associates, the project will deliver a 19-story mixed-use building. Rising just under 218 feet, it will hold 164 residential units as well as 4,100 square feet of ground floor retail space. The design utilizes a mix of black and white metal panels to break up the massing otherwise encased in a glass window wall system.
Marketing the building towards students and young professionals, the unit mix will include 80 studios, ranging from 450 to 580 square feet, 24 two-beds averaging 800 square feet, and 60 four-bedroom configurations averaging 1,200 square feet. Studios will rent for an estimated $1,700/month, larger studios will rent for about $2,100/month, two-beds will rent for approximately $3,000/month, and the four-bedroom units will rent for roughly $5,000/month.
Tenant amenities will reside on the top two floors, featuring a fitness center, yoga studio, coworking space, resident lounge, outdoor terrace, basketball court, and rooftop pool and hot tub. Residents will be provided with 64 car parking spaces and 100 bicycle parking spaces.
The development is moving forward as-of right, under the existing DX-12 zoning. The developers are not looking at any zoning amendments or variances, so no formal approvals have been required from the city. With the foundation permit in hand, general contractor Focus Construction can break ground on the project.