Chicago Hotel Site Gets Air Rights Boost

Chicago’s Fulton Market hotspot is back with a twist: a two-hundred-ninety-six-room hotel site now comes bundled with bonus air rights, potentially doubling its buildable footprint to 151,000 sq ft. Originally approved in 2020, the project’s zoning expires in January—with a one-year extension option. The seller, who previously offered it for $9.8M, is now eyeing fresh approvals by bundling unused air rights from neighboring properties, including one owned by the seller. This high-stakes gamble could unlock massive development potential—but buyers must weigh the cost and effort of new city approvals against the upside of a prime, expanded footprint before time runs out. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/ee9302b7564f7474