Fengate Asset Management and Mavrek Development broke ground on Julep West Loop, a 25-story mixed-use residential development in the West Loop.
The development will deliver 380 units, including 76 affordable units and 21,500 square feet of commercial space, including an international grocery store.
Community amenities include:
- Rooftop pool with cabanas
- Outdoor fire pits
- Fitness center
- Pickleball court
- Half-court basketball court
- Dog run and grooming facilities
- Resident lounges
- 24-hour concierge service
- Bike storage
- EV charging stations
Julep West Loop is located between Fulton Market, the Chicago Loop and the Illinois Medical District. Its location offers residents access to employment centers, transit, retail, dining and entertainment.
The project will reportedly target a sustainability program that includes National Green Building Standard (NGBS) certification, energy efficiency strategies, green roofs, EV-ready infrastructure, water conservation measures, stormwater reuse systems and robust environmental management practices during construction.
“Breaking ground on Julep West Loop marks an important step in Fengate’s growth in the United States and builds on our commitment to delivering high-quality rental housing where it is needed most,” said Alexander Glassman, managing director, U.S. investments, real estate, Fengate Asset Management. “With demand for housing in Chicago continuing to outpace supply, now is the time to advance well-located, mixed-use communities that connect residents to jobs, transit and amenities. Together with Mavrek, we are proud to help bring much-needed homes to the West Loop and create lasting value for residents, workers and the broader community.”
Anthony Hrusovsky, partner and chief investment officer of Mavrek Development, adds, “As owner and developer, we’re responsible for creating a successful asset, not only for our investors but for the community as well. The West Loop has become one of Chicago’s most in-demand neighborhoods, and we’re honored to support the continued growth of the area by delivering much-needed housing anchored by one of the world’s most reputable grocers.”
Construction is expected to generate approximately $69 million in income for Chicago’s union construction workforce between 2026 and 2028. The project will take 21 months, with first occupancy anticipated in early 2028.