Renderings emerge for 18-story South Loop project

Melrose Ascension Capital (MAC) is eyeing a narrow South Loop lot for an 18-story building containing a mix of apartments, co-living units, and student housing, according to information and renderings listed on the developer's website. 

The estimated $68 million project is slated for the vacant property at 624-632 S. Wabash Avenue and would be constructed "as of right," or without the need for a zoning change or other assistance from the city. The structure would deliver 151 units (332 total bedrooms), 3,100 square feet of retail, and on-site parking for just 80 cars to the transit-rich location. 

Designed by Antunovich Associates, the building would also feature a slew of tenant amenities including a fitness center, a half-court basketball court, co-working space, a resident lounge, and an outdoor terrace with a pool deck and hot tub. According to MAC, rents start at $1,299, "making it one of the most affordable market-rate new-built housing options in all of Chicago."

Melrose Ascension Capital is also behind a 19-story, 288-apartment project slated for 1217 W. Washington Boulevard in the West Loop. Unlike the Wabash Avenue proposal, that development will require city approval and is scheduled to go before the Chicago Plan Commission later this month. Renderings of MAC's South Loop project were first reported by YIMBY Chicago.