The Chicago City Council recently approved a plan for Shapack Partners to develop four residential towers offering 2,200 apartments and a 141-room boutique hotel at the closed Salvation Army property located near the intersection of Milwaukee, Grand and Halsted. That’s within walking distance of the $1.7 billion Bally’s Casino to be built at the Chicago Tribune Freedom Center. Bally’s officials hope to open the casino in early 2026.
According to Crain’s, Shapack Partners bought the property for $25 million in May. Besides apartments, the towers could include restaurants, retail and office space.
City Planning Commissioner Maurice Cox called the development a “pretty clear win” for Chicago. “It’s like the missing link between Fulton Market and emerging casino district,” he said.
City planning officials said Shapack Partners pledged to give the Neighborhood Opportunity Fund $11.9 million, plus $1.49 million each to the Local Impact Fund and Citywide Adopt-A-Landmark Fund.
