New buildings continue to sprout up in Chicago’s Near West Side. Today there will be a groundbreaking ceremony for a new residential mid-rise called The Madison at Racine (1212 West Madison).
The apartment building will be a nine-story residential building, with a very nice glass drum in the southeast corner where the main lobby will be. It was designed up the street at FitzGerald Associates, and is being developed by two Chicago firms, Ascend Real Estate Group and Team4 Development, along with Intercontinental Real Estate out of Boston.
“The Madison at Racine will be a long-term asset for the city of Chicago, providing residents with luxury finishes and services in a boutique, neighborhood building,” said Walter Rebenson, CEO of Ascend.
While the Near West Side neighborhood has seen dramatic growth in the number of people living there over the last ten years, city officials and developers, including Ascend, note that it is underserved when it comes to rental apartments.
The building will have 216 apartments over ground floor retail facing Madison Street. Unfortunately, it will also have 227 parking spaces — 1.05 parking spaces per unit. It’s an unusually high number of parking spaces compared to other buildings going up downtown in the last two years. Most are in the 0.6 to 0.8 range in order to discourage people from adding even more cars to the city’s congestion and to promote the adoption of mass transit.
The Madison at Racine will have two recreation areas. The first will be on the second floor, and includes a dog run, sun deck, and grilling area.
The second is on the ninth floor, and features a glass-enclosed club room with bar and kitchen, lounge areas, an outdoor fire pit, a hot tub, and a pool. Those amenities face the city skyline.
The developers are going for LEED certification for the building. Occupancy is expected in the autumn of 2014. More specifications below.
- Property footprint: 48,000 square feet
- Building footprint: 41,544 square feet
- Residences: 216
- Height to highest occupied floor: 93 feet
- Height to rooftop amenity floor: 105 feet
- Maximum height (elevator penthouse): 118 feet
- Parking spaces: 227
- Outside surface parking spaces: 23
- Bicycle parking spaces: 114
- Vehicle access to garage via North Racine Street
- Partial underground parking
- Building width (southern side): 238 feet
- Building depth (western side): 200 feet
- Building depth (eastern side): 199 feet
- Interior courtyard length: 115 feet, 6 inches
- Interior courtyard width: 53 feet, 6 inches
- Dog run length: 60 feet
- Dog run width: 20 feet
- Green roof: 19,067 square feet
- Native plants in landscaping
- Eight trees on Madison Street
- Low VOC paints
- Low VOC adhesives and sealants
- Low wattage lighting
- Low-e spectrally selective insulated glass in thermally broken frames
- Since this building will not have 22 low income apartments, the developer will pay $2.2 million into the city’s Affordable Housing Opportunity Fund.