Shapack Partners, a multi-asset class development company rooted in the Fulton Market District, and CRG have partnered to develop a multifamily residential building at 220 N. Ada St. in Chicago's Fulton Market.
“We are thrilled to kick off our second joint venture with Shapack Partners in Fulton Market to deliver first-class multifamily housing to the neighborhood,” says CRG CEO Shawn Clark. “Fulton Market is one of the leading submarkets in the country and has established itself as a live, work, play, stay neighborhood within Chicago. Development starts are hard to come by these days, and we are excited to bring much-needed housing to one of the strongest innovation districts in the country.”
At 314 feet tall, 220 N Ada St. will be set on a 27,244-square-foot parcel at the corner of West Fulton and North Ada streets, replacing a one-story warehouse building. Demolition is scheduled for February. Construction on the project will begin in March, with completion expected in early 2026. CRG parent company Clayco is the builder, and its subsidiary, Ventana, designed and will install the building’s window-wall façade.
Having secured full capitalization for the 29-story residential development, the mixed-use project will include 308 rental apartments and 12,300 square feet of ground-floor retail. Apartments will include studio, one-, and two-bedroom units, as well as nine penthouses. Twenty percent of the units will be designated as affordable housing at a weighted average of 60% of the area median income.
“A high interest-rate environment and illiquid equity market will make 220 N. Ada St. one of Chicago’s only new residential deliveries in 2026,” says Paige O’Neil, president of Shapack. “Capitalization of this project is a testament to the strength of Fulton Market and the conviction our team has in Chicago.”
Bill Williams, founder and principal of KMW Communities, is also a part of the development team. The partnership with KMW is part of CRG’s PILLAR initiative, the firm’s diverse developer program that works closely with a group of Chicago-based developers aimed at addressing the lack of diversity in commercial real estate.
Designed by SOM as architect-of-record, the property will feature a façade of dark gray metal projections extending vertically and horizontally with floor-to-floor windows throughout. The residential units, on floors five to 28, will be set atop a three-story podium and fourth-floor indoor and outdoor resident amenity area.
The podium, which will house a lobby, retail, and parking, is divided into two masses, with the portion under the residential tower replicating the building’s gridded glass and metal façade. The second half of the podium will be wrapped in black brick with large openings for storefront windows on the ground floor and the terrace on the rooftop.
220 N. Ada St. will exceed local energy codes, reduce water use, include electric-vehicle (EV) charging stations, provide additional EV-charging readiness, and dedicate a significant area for green roofs and working landscapes. The team is also committed to ensuring 80% construction waste diversion.
Gensler is serving as interior designer and has curated a mix of rich textures and warm tones that are inspired by hospitality design. Ranging from 400 to 1,400 square feet, the residences’ open floor plans will include wide-plank wood-style flooring throughout and floor-to-ceiling windows. Kitchens will be outfitted with wood cabinetry, stone countertops, vertical subway tile backsplashes, large islands, and panelized appliances.
220 N. Ada St. is Shapack’s 12th Fulton Market development and CRG’s fourth residential development in Chicago.
