Fulton Market, Chicago, IL – Jun 1, 2022 – DAC Developments, Melrose Ascension Capital (MAC) and Focus are moving forward with a partnership to construct a 19-story, 287-unit mixed-use residential building in Fulton Market, Chicago’s hottest submarket
1221 Washington will be a Class-A, 19-story, mixed-use development strategically located in the Southwest corner of Fulton Market. The project will feature 287 residential units and approximately 3,000 square feet of retail. The future community benefits from its proximity to the cultural center of Fulton Market, along Randolph and Lake Streets, as well the public transit lines which serve the rest of the Chicago CBD and beyond. A mere two blocks from the hustle of Fulton and Randolph streets, future tenants will enjoy the proximity without the crowds and traffic that come with the booming neighborhood.
The mixed-use building will offer ground floor retail and a mix of studio, convertible, and 1-bed units ranging in size. The units at 1221 will offer all the luxury comforts which define the Fulton Market neighborhood including 9-foot ceilings, quartz counters, spacious walk-in closets and more. 1221 is further set apart by a best-in-class amenity package which includes a rooftop deck with pool and grill stations, a spa with hot tub, steam room and sauna, fitness center with yoga and spin rooms, private co-working spaces, and a dog run.
The 3,000 SF of commercial space at the base of the building will be home to a future retailer or coffee shop, creating added value for future tenants.
Prominent architecture firm Pappageorge Haymes takes the lead on design at 1221 Washington. Though the tower will have a modern aesthetic, the 4-story concrete podium will reflect the contemporary design of Washington Boulevard with a blend of brick and metal materials on the facade. The 286,232 GSF tower will be enclosed in glass from floor 5 through 19. The top most floors will be set back to allow for the amenity deck, complete with iconic views of Chicago’s skyline.
Teams plan to start construction this fall, with a scheduled delivery in the first half of 2024. Focus will also act as the general contractor on the project
About DAC Developments
DAC Developments’ purpose is to develop high-quality, luxury housing attainable for everyone. Its team has 125 collective years of real estate development experience.
DAC President Daniel Rezko oversees all of the company’s developments, including design, financing, and land acquisition.
For more information please visit dacdevelopments.com
Melrose Ascension Capital (MAC) is a real estate development and investment firm based in Chicago that is currently developing over $350 million and 758 units of institutional multifamily projects in downtown Chicago and Florida. MAC utilizes industry fundamentals, innovation, and a relationship-oriented approach to cater its projects to demographics that are often outpriced and overlooked by developers.
MAC's founder, Nick Melrose, has direct experience developing and acquiring over $1 billion and several million square feet of property nationwide during his career and is a first-generation college graduate from a small-town of ~7,500 people in northeast Iowa, which has instilled Midwestern values and provided a fresh and unique perspective on the market.
For more information about the company and its projects, please visit Melrose-Capital.com.
Focus is a Chicago-based developer and general contractor, that since 1993, has utilized an integrated delivery model to produce a diverse portfolio of distinctive real estate. Focus has delivered developments in the Chicago market that value over $2.4 billion and projects have ranged from smaller, multifamily communities in historic districts to high-density, mixed-use redevelopments in thriving downtowns. For more information, please visit workwithfocus.com.