1130 N. State Street
ELEGANT DESIGN + UPSCALE LIVING
1130 N. State Street is a mixed-use development with modern, upscale residences and approachable dining and shopping options. The project is designed to complement the architecture and feel of the Gold Coast neighborhood.
At the ground level, smaller, welcoming neighborhood retail experiences will capture the neighborhood feel of the Gold Coast. A neighborhood favorite, Lou Malnati's, will remain in place.
RESPONDING TO NEIGHBORS' CONCERNS
Your feedback was important to us. We listened and learned, and made meaningful changes to our project:
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Reduced density
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Eliminated 2nd floor retail
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Eliminated 84 apartments
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Lowered height from 465' to 345'
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Included plan for Lou Malnati's
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Added sidewalk café area
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Added drop-off lane on Elm
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Added larger trees and landscape planting on Elm
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Widened State Street sidewalk
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Widened State and Elm intersection sidewalk
HIGHLIGHTS
Residences: 304 upscale rental apartments ideal for young professionals and couples looking to put down roots in the Gold Coast.
Structure: At 345 feet tall, 1130 N. State will be of similar height to nearby buildings.
Parking: The building will include 105 fully enclosed garage parking spaces for residents and off-street drop-off and pick-up at the residential entrance for ride-share and taxi use.
Sustainability: The building will exceed the Sustainable Development Policy of the City of Chicago for green building requirements, including green roof elements and other energy-saving features.
BENEFITS
Public Revenue: 1130 N. State is forecast to generate more than $2.0M in annual property tax revenue. Newcastle will pay the City $8.1M to support affordable housing, the Neighborhood Opportunity Fund and open space in Chicago.
Inclusive Hiring: The project will generate 400+ jobs during construction as well as 11 permanent, on-site jobs. Newcastle is committed to hiring local minority- and women-owned construction-related businesses through our contracting practices.
Community Involvement: Newcastle has invested in and around the community for more than 23 years. We are actively involved in the neighborhoods in which we invest, live, and work, and we work to create opportunities for residents to contribute to their communities.
Neighborhood Feel: An upscale residential building with small format retail will maintain the eclectic character of the Gold Coast. Widening the State Street sidewalk, adding trees along Elm, and accommodating a future sidewalk café will improve the streetscape will improve the pedestrian experience.
DEVELOPMENT
Zoning: The project is being developed under existing zoning.
Timing: Demolition is expected to take place in Summer, 2023. Construction is anticipated to follow in Fall, 2023 and end by early 2025.
No Public Funding: Newcastle will receive no TIF funding or tax breaks for this property.
NEWS & UPDATES
Please check in for up-to-date news and development updates.
News
Chicago Plan Commission approves 29-story mixed-use development. More at The Real Deal
Plan Commission Approves Mixed-Use Development At 1130 N State Street In Gold Coast. More at Chicago YIMBY
Renderings revealed for revised mixed-use development at 1130 N State Street in Gold Coast. More at Chicago YIMBY
Proposed Gold Coast rental tower returns with changes. More at Urbanize Chicago
Scaled-down, 29-story apartment tower proposed for Barnes & Noble site on Near North Side. More at Chicago Tribune
Developer shrinks Gold Coast high-rise proposal. More at Crain's Chicago Business
Updates
ABOUT NEWCASTLE
Newcastle Limited is a real estate investment firm that acquires, develops and owns urban retail, multifamily and mixed-use properties in Chicago's most vibrant and popular neighborhoods. Our expertise ranges from the transformation of small, reimagined properties to the development of ground-up, state-of-the-art high-rises.
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We are a long-term owner with a proven track record in creating vibrant communities.
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We give careful thought to the design of each property and how it fits within a neighborhood.
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We own and manage 3,000+ residential units and 600,000 square feet of retail throughout Chicago.
ABOUT RESIDE LIVING
Reside Living is Newcastle Limited's wholly-owned leasing and management affiliate. Reside will maintain a 24/7 presence at 1130 N. State Street. Our team will provide an exceptional living experience and welcoming home for our residents, as we do at all our apartment communities.