(To read more on the multifamily market, click here.)
CHICAGO-A long-awaited multifamily rental building planned forthe corner of Des Plaines and Kinzie streets will be slimmer,taller and have 35 more units than originally expected. Revisedplans by Fifield Cos., calling for a 350-unit, 39-story building atthe southeast corner, were endorsed Friday by the plancommission.
Rents in the multifamily tower, across Kinzie Street from theBlommer Chocolate factory and part of the Kinzie Stationdevelopment, are expected to exceed $2 per sf. However, 42nd WardAlderman Burton Natarus predicts the building eventually willbecome condominiums. "Eight or nine years from now, it'll becondo," he says.
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