Weldon Advances Major 724-Unit Residential Development in Fulton Market

• Site preparation is underway for the first phase of the 410 North Elizabeth development in Chicago's Fulton Market District.
• The project combines multiple former parcels, including 400 North Elizabeth and 401 West Ogden Avenue, into one large development site.
• Weldon Development Group plans to build two residential towers with a combined 724 apartments.

What Is Happening at 410 North Elizabeth

Construction activity has begun at 410 North Elizabeth as Weldon Development Group moves forward with a major residential project in Fulton Market. Recent work includes site clearing, grading, and the installation of construction fencing as crews prepare for foundation and caisson work. The development site was assembled from multiple parcels, including the former properties at 400 North Elizabeth and 401 West Ogden Avenue. Both buildings were demolished in 2024 to make room for the larger project now moving into active construction.

What the Unified Development Includes

Although multiple addresses were previously located on the site, the parcels are now being redeveloped as a single master-planned project centered around 410 North Elizabeth. The first phase, known as the East Tower, will rise 33 stories and contain 383 rental apartments. When the full development is completed, two residential towers will deliver a total of 724 units to the Fulton Market neighborhood. Residents will have access to a shared podium featuring approximately 300 parking spaces, 724 bicycle storage spaces, and roughly 2,000 square feet of retail space. Plans also call for a geothermal energy system designed to improve the project's long-term sustainability.

What Happened to 400 North Elizabeth and 401 West Ogden Avenue

The properties at 400 North Elizabeth and 401 West Ogden Avenue were previously occupied by low-rise buildings that fronted North Elizabeth Street and West Ogden Avenue. Demolition permits were issued for both structures in June 2024 as part of Weldon's site assembly efforts. Rather than supporting separate developments, the parcels were combined into a larger development footprint that now supports the two-tower residential project.

What Teams Are Leading the Project

Weldon Development Group is leading the development after acquiring the site in January 2024. Archeo Design Studio designed the project, while Clark Construction will serve as general contractor. Adjustable Concrete Construction has been selected as the project's concrete contractor. The development team secured financing earlier this year, helping move the project from permitting into active construction.

What the Project Means for Fulton Market

The 410 North Elizabeth development represents another significant residential investment in Fulton Market, one of Chicago's fastest-growing neighborhoods. By transforming multiple former properties into a single high-density residential community, the project will add hundreds of new apartments near major employment centers, transit connections, and retail destinations. With site preparation now underway, the development is positioned to become one of the district's largest residential projects currently under construction.