Fengate Asset Management and Mavrek Development celebrated the groundbreaking of Julep West Loop, a 25-story mixed-use residential development at 1016 W. Jackson Blvd. in Chicago’s West Loop neighborhood.
The development will deliver 380 residential units, including 76 affordable units, alongside more than 21,500 square feet of commercial space, anchored by an international grocery store serving residents and the surrounding community. The property will include market-leading amenities including a 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, and EV charging stations.
Located between Fulton Market, the Chicago Loop and the Illinois Medical District, Julep West Loop will offer residents convenient access to major employment centers, transit connections and established retail, dining and entertainment amenities. The development comes amid strong housing demand and limited new residential supply in the West Loop, a neighborhood that has seen significant growth and development in recent years.
The event featured remarks from James P. Connolly, Business Manager for the Chicago Laborers District Council, Joseph Mancinelli, Chair of LPFCEC, LiUNA International Vice President and Regional Manager for Central and Eastern Canada, Michael Macellaio, President, Chicago & Cook County Building & Construction Trades Council, Illinois State Treasurer Michael Frerichs, Alderman Bill Conway, Ward 34, City of Chicago, Adam Friedberg, Chief Executive Officer, Mavrek Development, and Lou Serafini, President and CEO, Fengate Asset Management.
Julep West Loop is being advanced through Fengate’s Social Opportunities strategy, which focuses on investments in housing, healthcare and logistics assets across the United States and Canada and builds on Fengate’s longstanding relationships with the labor community and development partners. The investment in Julep West Loop is supported by an anchor commitment to the strategy from the LiUNA Pension Fund of Central and Eastern Canada (“LPFCEC”), further building on a long-standing partnership and a shared commitment to delivering high-quality housing and meaningful benefits for workers and their communities.
Julep West Loop will target a comprehensive sustainability program, including 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.
Skender is serving as general contractor and will lead construction on the project, which is expected to generate approximately 740,000 union construction labor hours and $69 million in income for Chicago’s union construction workforce between 2026 and 2028. Construction is expected to take approximately 21 months, with first occupancy anticipated in early 2028.
