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Habitat starts leasing Cassidy on Canal, a new luxury rental high-rise in Chicago

Multifamily Housing

Habitat starts leasing Cassidy on Canal, a new luxury rental high-rise in Chicago

The new 33-story Class A rental tower, designed by SCB, will offer 343 units in the city's Fulton River District. 


By HABITAT | April 12, 2024
Cassidy on Canal, Chicago - designed by SCB
Cassidy on Canal, a new 33-story, 343-unit Class A apartment tower at 350 N. Canal St. in Chicago’s Fulton River District. designed by SCB for developer Habitat. Photo: Courtesy SCB

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.

Cassidy on Canal, interior unit rendering, SCB
Cassidy on Canal features multiple apartment layouts across a mix of studio, one-bedroom, two-bedroom, and penthouse units, with high-end finishes. James McHugh Construction Co. is the GC. Rendering: SCB

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 Buenzthe new 375-foot glass tower marks the latest luxury residential project for Habitat in the neighborhood.

Cassidy on Canal pool deck, rendering by SCB
Cassidy on Canal’s amenity package includes 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. Rendering: SCB

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. 

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