Chicago West Loop Development Begins With 380 New Units

Real Estate Today Staff

Fengate Asset Management and Mavrek Development have begun construction on Julep West Loop, a 25-story mixed-use project in Chicago’s West Loop. The development will include 380 residential units, 76 affordable homes and more than 21,500 square feet of commercial space, with first occupancy expected in early 2028.

Key Takeaways

Fengate Asset Management and Mavrek Development have broken ground on the 25-story Julep West Loop in Chicago.
The project will add 380 residential units, including 76 affordable homes.
More than 21,500 square feet of commercial space will include an international grocery store.
Construction is expected to take about 21 months, with first occupancy targeted for early 2028.
The development will include sustainability measures such as green roofs, EV-ready infrastructure, water conservation and stormwater reuse systems.

Julep West Loop Begins Construction in Chicago

The groundbreaking brings the 25-story Julep West Loop into its construction phase. Fengate Asset Management and Mavrek Development are advancing the project as a mixed-use residential development in the West Loop neighborhood.

The project is planned to deliver 380 residential units. Of those homes, 76 are designated as affordable units, while the remaining residences will be market-rate housing.

Julep West Loop will also include more than 21,500 square feet of commercial space. An international grocery store will anchor that portion of the development and serve residents as well as the surrounding community.

The development is located between Fulton Market, the Chicago Loop and the Illinois Medical District. Its location places the project near major employment centers, transit connections, retail, dining and entertainment destinations.

Construction is expected to take approximately 21 months. First occupancy is anticipated in early 2028.

Skender is serving as the project’s general contractor and will lead construction of the building.

Similar mixed-use projects have combined housing with commercial space in other U.S. markets, including a development planned with thousands of residences alongside retail, medical-office and other commercial uses.

380 Residential Units Form the Core of the Development

The residential component accounts for the largest portion of Julep West Loop. The completed building is planned to contain 380 homes within its 25-story structure.

The project includes 76 affordable units, establishing an affordable-housing component within the larger residential development. The remaining units will be market-rate residences.

The development will include several residential amenities. Planned facilities include a rooftop pool with cabanas, outdoor fire pits, a fitness center, a pickleball court and a half-court basketball court.

Residents will also have access to lounges, a dog run and grooming facilities. Additional building services and infrastructure will include 24-hour concierge service, bicycle storage and electric-vehicle charging stations.

The combination of residential units, amenities and commercial space is designed into a single mixed-use property rather than separate residential and retail developments.

The project adds to a range of U.S. housing developments incorporating income-restricted residences into larger multifamily projects.

Julep West Loop’s location also places its residential component near several major Chicago districts. Fulton Market, the Chicago Loop and the Illinois Medical District are all identified as nearby areas, while transit connections provide access to employment and other destinations.

Affordable Housing and Commercial Space Expand the Project

The 76 affordable units represent a defined portion of the project’s 380-unit residential inventory. The development will also provide more than 21,500 square feet of commercial space.

An international grocery store is planned as the commercial anchor. The grocery component will serve the people living within the development as well as residents and other members of the surrounding community.

The project therefore combines housing and commercial uses within the same 25-story development. Its commercial space will add a retail component to the residential property rather than limiting the building’s use to housing.

Fengate is advancing Julep West Loop through its Social Opportunities strategy. The strategy focuses on investments in housing, healthcare and logistics assets across the United States and Canada.

The Julep West Loop investment also has an anchor commitment from the LiUNA Pension Fund of Central and Eastern Canada, known as LPFCEC. The investment represents LPFCEC’s first investment in a real estate development in the United States.

The project involves Fengate and Mavrek as development partners, with Affinius Capital also identified as a partner in the development. Mavrek is serving as owner and developer.

Other mixed-use projects have similarly paired residential construction with substantial retail components, including developments with hundreds of planned homes and large commercial footprints.

West Loop Location Connects Residents With Major Districts

Julep West Loop is positioned between Fulton Market, the Chicago Loop and the Illinois Medical District. The location provides proximity to employment centers, transit connections and established retail, dining and entertainment destinations.

The project’s developers have identified the West Loop as an area with housing demand and limited new residential supply. Julep West Loop is planned to add 380 residential units to that neighborhood’s housing stock.

The location also connects the residential project to several distinct parts of Chicago. The Chicago Loop is a major employment and commercial district, while Fulton Market and the Illinois Medical District are also located near the project.

The development’s commercial component is intended to serve both the building and its surrounding area. More than 21,500 square feet of space will be included, with an international grocery store serving as the anchor tenant.

The mix of residential and commercial uses means the completed property will provide both housing and retail space at the same location.

The project also includes infrastructure intended for residents with electric vehicles, along with bicycle storage. These features are part of the building’s planned amenities and transportation-related facilities.

Affordable housing has also remained a component of multifamily development proposals in other U.S. markets, with projects ranging from smaller downtown developments to larger residential pipelines.

Construction Timeline Targets Early 2028 Occupancy

Construction is expected to last approximately 21 months following the groundbreaking. First occupancy is anticipated in early 2028.

Skender is the general contractor responsible for leading construction. The project is expected to generate approximately 740,000 union construction labor hours between 2026 and 2028.

The construction workforce is projected to receive approximately $69 million in income during that period. The figures cover the project’s expected union construction labor activity.

Julep West Loop also has a sustainability program planned for the development. The project will target National Green Building Standard certification, commonly referred to as NGBS certification.

Planned sustainability measures include energy-efficiency strategies and green roofs. The project will also include electric-vehicle-ready infrastructure and water-conservation measures.

Stormwater reuse systems are part of the planned environmental infrastructure. The construction process is also expected to include environmental management practices.

The development’s planned amenities extend beyond residential and commercial uses. The property is expected to include a rooftop pool with cabanas, outdoor fire pits, fitness facilities, courts for pickleball and basketball, resident lounges, a dog run and grooming facilities.

A 24-hour concierge service, bicycle storage and EV charging stations are also planned for the property.

Frequently Asked Questions

What is Julep West Loop?

Julep West Loop is a planned 25-story mixed-use residential development in Chicago’s West Loop. Fengate Asset Management and Mavrek Development are advancing the project.