New Developments Shaping Chicagoland

Written by our real estate broker, Charlie Wood

One of my favorite things about living in Chicagoland is watching our communities change and grow. Even as a Realtor who prides himself on staying up to date with everything happening around the area, it’s hard for the average Joe to keep up. I genuinely enjoy seeing new developments take shape and neighborhoods evolve over time, and I thought you would get something out of seeing some exciting new projects all in one place.

Whether it's a new mixed-use development, a revitalized downtown district, or a major infrastructure project, these changes help shape the future of our communities and can have a real impact on local home values, businesses, and quality of life. And honestly, I can't think of a better place to watch that happen than the world's greatest city—Chicago (no bias whatsoever).

To connect it to the real estate market more broadly, seeing more homes- whether rental or purchase- enter the market, can only have a positive impact on our housing starved communities. Let's get to it...

Charlie walking his dog on The 606

Foundry Park

If you've followed the story of Lincoln Yards over the last several years, you'll be interested to know that the northern portion of the site is officially moving forward under a new name: Foundry Park.

The massive redevelopment along the North Branch of the Chicago River is planned to bring more than 3,200 new residences, retail, a hotel, and roughly 10 acres of public open space. Personally, I think one of the most exciting aspects of the project is the planned extension of The 606 trail, creating even better connectivity between neighborhoods while adding more green space for residents to enjoy. Having lived right off The 606 in Bucktown for many years, I know how important a dedicated pedestrian space is for recreation and commuting about the city safely.

Construction on the first phase is expected to begin later this year, making this one of the most significant projects currently moving ahead in the city.

The 78

Another megadevelopment that's finally becoming a reality is The 78 in the South Loop.

The biggest headline is the future home of Chicago Fire FC, with the club's new soccer-specific stadium already under construction. Beyond the stadium, though, this project is set to completely transform a long-underutilized section of riverfront into a vibrant mixed-use neighborhood. Having lived on South Wells back in the day this will be a welcome addition to the neighborhood. Plus, I'm a huge soccer fan.

Plans include new housing, restaurants, retail, public parks, and an extension of the Chicago Riverwalk, creating another destination that connects people back to the river.

The 78 Rendering

Bally's Casino

If you've driven downtown recently—especially coming off the Ohio Street ramp—you've probably noticed the massive construction site taking shape at the former Chicago Tribune property.

Bally's Casino has experienced a few construction delays, but work continues to move forward. The casino is currently expected to open in the spring of 2027 and will eventually include a hotel, restaurants, entertainment venues, and public open space.

Whether you're excited about the casino itself (it’s been polarizing to say the least) or simply interested in seeing this part of downtown redeveloped, it's a project that's hard to ignore. 

Bally's Casino

Fulton Bond

One of the neighborhoods that seems to reinvent itself every year is Fulton Market, and the Fulton Bond development is another example of that continued growth.

The mixed-use, two-tower project will add new residential units alongside retail and commercial space, as well as a shared amenity space connected by a walking bridge between the two buildings. One tower's amenities will have a social focus, while the other will be centered around wellness. Together, these towers will help meet the area's growing demand while continuing the neighborhood's evolution from its industrial roots into one of Chicago's most desirable places to live, work, and dine. It's another reminder that Fulton Market doesn't appear to be slowing down anytime soon.

I had the opportunity to attend a private tour and presentation about this project and it is going to be the best new construction building in the entire area. It might make this current suburban resident consider a move back to the city or even an intown. My wife, Lauren Mitrick Wood, also a Realtor on our team, attended the presentation with me and made this Instagram video of her favorite design trends she saw in the showroom.

Fulton Bond Rendering

The Bowery of Highland Park

Development isn't just happening in the city.

On the former Solo Cup factory site in Highland Park, The Bowery will bring 227 new townhomes (3 bed and 3 bed plus den) to the North Shore. The community is designed with walking paths, preserved green space, a clubhouse, pool, dog park, and playground, creating a neighborhood that's focused as much on lifestyle as it is on housing.

With construction expected to begin later this year, it'll be exciting to watch this long-vacant property find new life.

The Bowery Rendering

One Winnetka

Just a few miles away, downtown Winnetka is getting a significant addition with One Winnetka.

The new mixed-use development will feature 59 luxury rental residences above approximately 20,000 square feet of commercial space, including a new restaurant. Designed to complement the character of downtown Winnetka, the project brings additional housing options while helping strengthen the village's already vibrant business district. This one comes with a steep price tag with most units being offered between $8-12,000. 

Construction is well underway, with completion expected toward the end of 2026.

One Winnetka

Looking Ahead

Whether these projects are happening downtown or out in the suburbs, they all point to one thing: Chicagoland continues to invest in its future.

Some developments will reshape entire neighborhoods, while others simply add new housing, restaurants, or community spaces. Together, they're helping create places where people want to live, work, and spend time.

As someone who loves following the local real estate market, I'll definitely be keeping an eye on each of these projects—and I'll continue sharing updates as they progress. It'll be exciting to see how they help shape the next chapter of Chicagoland. 

But one question still remains, where are those darn Bears going?