Chicago-based Habitat, a leading U.S. multifamily developer and property manager, has started pre-leasing for Cassidy on Canal, a new 33-story, 343-unit Class A rental tower at 350 N. Canal St. in Chicago’s Fulton River District.
Cassidy on Canal features multiple apartment layouts across a mix of studio, one-, two-bedroom, and penthouse units, plus 1,313 sf of ground-floor retail, parking for 123 vehicles, and an outdoor dog run just northwest of the building.
The amenity package is highlighted by a 10,000-sf outdoor deck off the building’s fifth floor, with landscaped grounds, a pool, lounge seating, fire pits, grilling areas, cool weather heaters, and dining areas. The fitness center will offer residents practice studios, a game room, various club rooms, a coworking center, and a spa with sauna, steam, and whirlpool rooms.
PROXIMITY TO CHICAGO'S RIVERWALK
“Cassidy on Canal brings the best Chicago has to offer right to its doorstep with its proximity to the riverwalk and the numerous businesses, restaurants and entertainment options of the Loop, Fulton Market and River North areas,” said Habitat President Matt Fiascone. “Compared to the higher density of Fulton Market to the west, Cassidy is nestled in this protected sweet spot with the river to one side and train lines to the other, filling a void in the immediate neighborhood for a modern, highly amenitized rental option.”
FORMER HOME OF CASSIDY TIRE COMPANY
Rents will range from $2,550 to $5,660 for studios anbd one- and two-bedrooms. Penthouse units are expected togo for up to $10,810 per month.
Located on the west side of Canal Street between Kinzie and Fulton streets, the 350 N. Canal site was formerly home to the Cassidy Tire building. Designed by nationally recognized architecture firm Solomon Cordwell Buenz, the new 375-foot glass tower marks the latest luxury residential project for Habitat in the neighborhood.
Habitat delivered nearby developments like Kinzie Park with condominiums and townhomes in 2001, followed by the 43-story Kingsbury Plaza apartment tower in 2007 and the 43-story Class A rental Hubbard Place in 2013.
In 1980, Habitat completed East Bank Club, the city’s premier health club, which occupies more than two full city blocks at 500 N. Kingsbury St.
JOINT VENTURE WITH DIVERSIFIED REAL ESTATE CAPITAL
The joint venture partner on Cassidy on Canal is Diversified Real Estate Capital, LLC. James McHugh Construction Co. is the general contractor.
Cassidy on Canal is one of several major multifamily developments Habitat is currently leading across Chicago, including the equitable transit-oriented development 43 Green in Bronzeville; Ogden Commons in North Lawndale where Sinai Chicago has opened a One Lawndale Community Care & Surgery Center; and LeClaire Courts on the city’s South Side near Midway International Airport.
ABOUT HABITAT
Founded in 1971, Habitat is a full-service residential real estate company specializing in property management, acquisitions and development. One of the largest residential property developers and managers in the United States, with over $3 billion in assets and more than 16,000 units under management across six states, the company’s portfolio spans a range of property types, from mid- and high-rise condominium, apartment and adaptive reuse developments to senior and affordable housing communities. Headquartered in Chicago, the firm has more than 800 employees throughout the United States.
Related Stories
Senior Living Design | Jan 10, 2023
8 senior living communities that provide residents with memory care
Here are eight senior living communities that offer their residents memory care, an important service for residents who need this specialized care.
Government Buildings | Jan 9, 2023
Blackstone, Starwood among real estate giants urging President Biden to repurpose unused federal office space for housing
The Real Estate Roundtable, a group including major real estate firms such as Brookfield Properties, Blackstone, Empire State Realty Trust, Starwood Capital, as well as multiple major banks and CRE professional organizations, recently sent a letter to President Joe Biden on the implications of remote work within the federal government.
Multifamily Housing | Jan 9, 2023
New York City advances plan to build 500,000 new housing units
After New York Mayor Eric Adams announced a “Moonshot” plan to build 500,000 new housing units over the next 10 years in early December, he moved quickly to jumpstart the process.
Sustainability | Jan 9, 2023
Innovative solutions emerge to address New York’s new greenhouse gas law
New York City’s Local Law 97, an ambitious climate plan that includes fines for owners of large buildings that don’t significantly reduce carbon emissions, has spawned innovations to address the law’s provisions.
Fire and Life Safety | Jan 9, 2023
Why lithium-ion batteries pose fire safety concerns for buildings
Lithium-ion batteries have become the dominant technology in phones, laptops, scooters, electric bikes, electric vehicles, and large-scale battery energy storage facilities. Here’s what you need to know about the fire safety concerns they pose for building owners and occupants.
Multifamily Housing | Dec 29, 2022
San Jose is largest U.S. city to abolish minimum parking for new housing
San Jose, Calif., recently became the largest U.S. city to strike down minimum parking requirements for new housing development. The city reversed zoning devised in the 1950s that reputedly gave it the worst sprawl of parking space in northern California.
Codes and Standards | Dec 29, 2022
New York City multifamily owners concerned over fires caused by e-bikes
In 2022, there have been nearly 200 fires and six deaths in New York City caused by lithium-ion batteries used in mobility devices such as electric bikes and scooters.
Multifamily Housing | Dec 27, 2022
Traverse Apartments brings 281 sorely needed rental units to the Denver area
Traverse Apartments offers 281 units, designed by KTGY, is located in Lakewood, Colo.
Multifamily Housing | Dec 21, 2022
Bay Area school district builds 122 affordable apartments for faculty and staff
The 122 affordable apartments at 705 Serramonte, Daly City, Calif., were set aside not for faculty and staff at Jefferson Union High School District.
Multifamily Housing | Dec 20, 2022
Brooks + Scarpa-designed apartment provides affordable housing to young people aging out of support facilities
In Venice, Calif., the recently completed Rose Apartments provides affordable housing to young people who age out of youth facilities and often end up living on the street. Designed by Brooks + Scarpa, the four-story, 35-unit mixed-use apartment building will house transitional aged youths.
