The Loop Is Getting 300 New Homes — and a Brand-New Park to Match

By Socialhood News · Il/Chicago/The Loop ·

The Loop's residential renaissance just got a major boost. The City of Chicago has selected a bold

62.2 million mixed-use development for the long-underutilized site at 331–35 S. Plymouth Court, right alongside Pritzker Park — and it's shaping up to be one of the most community-centered projects downtown has seen in years.

The winning proposal, called ACōDA, is led by minority-owned DL3 Realty and calls for a 25-story building with 300 mixed-income residences — 20% of which will be affordable — plus ground-floor retail and restaurant space, co-working areas, and live/work lofts. But perhaps the most exciting piece for everyday Loop visitors: the project includes at least

.5 million in developer-funded upgrades to Pritzker Park at State and Van Buren, with plans for a new performance space, improved lighting, and public art installations that will give the park a genuine community heartbeat. The development is also transit-oriented, sitting near CTA Brown, Orange, Pink, Purple, and Red Line stations. The powerhouse project team includes architecture firm Perkins & Will and construction firms Power Construction and UJAMAA Construction.

"This exciting proposal will reactivate one of the Loop's most underutilized sites," said Ald. Lamont Robinson. It's a sentiment the whole neighborhood can get behind. Stay tuned to the Chicago Loop Alliance at loopchicago.com for updates as ACōDA moves toward groundbreaking.

Sources:
1. https://www.chicago.gov/city/en/depts/dcd/provdrs/ec_dev/news/2026/february/mixed-use-development-selected-for-loop-site-overlooking-pritzke.html
2. https://chicago.urbanize.city/neighborhood/loop