Plan Commission approves development at 1338 W. Lake

The Chicago Plan Commission has approved a mixed-use development at 1338 W. Located at the corner of W. Lake St and N. Ada St, the project site is currently home to a pair of vacant connected buildings previously home to Hindman Auctions. Chicago-based developer CEDARst Companies acquired the nearly 36,000 square foot property for $6.5 million in May 2025.

Designed by SCB, the mixed-use development will take shape as a 32-story mixed-use building reaching 364 feet in height. The building will feature 321 residential units, 7,200 square feet of retail space, 164 parking spaces, and 321 bike parking spaces. The project’s unit mix will include 121 studios and junior one-beds, 76 one-beds, 117 two-beds, and 7 three-beds. To meet affordable housing requirements, 65 of the units will be set aside as affordable. 

On the ground floor, the building will have 7,200 square feet of retail space along W. Lake St, with the residential lobby fronting N. Ada St along with leasing offices. The back of the ground floor will have mechanical spaces, a bike room, the loading dock, and a ramp up to the parking podium accessed via the alley. 

The building design features a six-story podium clad in dark metal paneling. Holding a total of 164 parking spaces, the west elevation of the podium facing N. Ada St is occupied by residential liner units screening the parking and activating the facade. 

Above the podium, the residential tower component rises clad in glass and architectural metal paneling with vertical fins as shading devices. Reaching a maximum height of 364 feet tall, the tower massing has been broken up into a series of four volumes arranged in a pinwheel configuration. Residents will have access to amenity spaces on the seventh and eighth floors as well as a full amenity floor on the 31st floor with outdoor deck and pool. 

To allow for the $155 million development, CEDARst is seeking to rezone the property from M2-3 to DX-10, with a 3.8 FAR bonus. With Chicago Plan Commission approval secured, the project can seek final approvals from the Committee on Zoning and City Council. The developer plans to break ground in Q4 2026 with completion set for Q3 2028.