FOR LEASE CREATIVE LOFT OFFICE 3RD FLOOR - UNIT 301 COMMERCIAL REAL ESTATE ADVISORS CHAD SCHROEDL 312.756.7329 CHAD.SCHROEDL@SVN.COM SCOTT MAESEL 312.676.1860 SCOTT.MAESEL@SVN.COM
HIGHLIGHTS Top floor timber loft office available Private keyed direct elevator access Incredible Fulton Market location 1 block from CTA Station Located between Google s Midwest HQ and new McDonald s Global HQ Surrounded by all the best restaurants and shopping COMMERCIAL LOFT OFFICE - UNIT 301 Currently configured as 4,050 SF creative loft office with hardwood floors, exposed brick and custom lighting. In addition, the layout includes: Three private offices Glass conference room Restrooms Kitchen Reception Large open area OVERVIEW LEASE RATE: AVAILABLE SPACE: $29/SF MG 4,050 SF Creative loft office ZONING: C1-2 MARKET: Fulton Market
COMMERCIAL LOFT - UNIT 301 - INTERIOR PHOTOS
COMMERCIAL LOFT - UNIT 301 FLOOR PLAN LAKE STREET ABERDEEN
FULTON MARKET LOCATION DESCRIPTION DEMOGRAPHIC SNAPSHOT The West Loop is Chicago s former warehouse district and is among the most rapidly developing neighborhoods in the country. Originally a mix of factories, meat markets, and wholesale produce outlets, the neighborhood has seen a major demographic shift over the last decade. The historic brick and timber loft buildings that define the neighborhood have largely been converted to other uses, including a mix of luxury condos, creative offices, art galleries, critically acclaimed restaurants, hotels, and retail boutiques. MEDIAN AGE AVERAGE INCOME PER HOUSEHOLD The West Loop has evolved into a must-see destination for locals and visitors who want to eat well. With new restaurant concepts opening on almost a weekly basis, the area boasts everything from Michelin Star rated Grace, Blackbird, Moto, and Sepia restaurants to more casual options like Green Street Smoked Meats, Shake Shack, Parlor Pizza, Federales, and Umami Burger. Other well-known dining options include Girl and the Goat, Au Cheval, Lena Brava, Aviary, Momotaro, City Winery, Publican and Avec. 32.8 $125,768 The neighborhood s international reputation continues to grow with the opening of Google s new Midwest headquarters, McDonald s Global headquarters, Soho House hotel, Nobu Restaurant and hotel, Hoxton hotel, the We Work co-working building, and the upcoming Punch Bowl Social and Ace Hotel. Other companies calling the West Loop home include Uber, LinkedIn, Twitter and Gogo. High-end retailers are also recognizing the area s potential with the recent additions of Anthropologie, Free People, Billy Reid and Maria Pinto. Excellent public transportation options including Metra train access at Ogilvie and Union Station combined with the city s first new CTA station in almost a decade that opened at Morgan and Lake in 2012 will continue to attract businesses and residents alike and make the West Loop one of Chicago s most exciting and desirable neighborhoods. To learn more about the West Loop, visit our blog at: www.westloopreport.com. ESTIMATED DAYTIME POPULATION 93,963 ESTIMATED POPULATION 51,734 *DEMOGRAPHIC SNAPSHOT DATA PROVIDED BY APPLIED GEOGRAPHIC SOLUTIONS
FULTON MARKET NOTABLE TENANTS 1330 W FULTON - OFFICE 1000 W FULTON - CHICAGO HQ 113 N GREEN - HOTEL 821 W FULTON - RETAIL 185 N MORGAN - RESTAURANT 845 W RANDOLPH - RETAIL 1000 W FULTON - RESTAURANT 1 N HALSTED - RETAIL 1330 W FULTON - OFFICE 1101 W RANDOLPH - RETAIL 725 W RANDOLPH - FITNESS 1330 W FULTON - OFFICE 1000 W FULTON - OFFICE 1000 W RANDOLPH - RETAIL 1025 W RANDOLPH - NATIONAL HQ 1000 W RANDOLPH - RETAIL
1K FULTON Located at 1000 W Fulton Current home of Google s Midwest HQ, SRAM, The Mill Visual Effects and Sandbox Industries Retail consists of Swift & Sons Steakhouse and South Central Bank Estimated employee population of 2,500 530,000 SF development, which Google occupies approximately 360,000 SF All 1K Fulton tenants signed long term leases THE GOOGLE & MCDONALD S EFFECT RANDOLPH WEST Located at 110 N Carpenter Future home of McDonald s Global HQ McDonald s will occupy 485,000 SF Development will house approximately 2,000 employees Estimated completion in summer of 2018 McDonald s signed a 15-year lease McDonald s vendors, including Coca-Cola are expected to relocate to the Fulton Market neighborhood
36 35 1 FULTON 29 30 22 26 2 4 14 5 11 15 33 25 10 8 32 MORGAN 23 6 25 7 24 28 FULTON 27 9 LAKE 31 CHICAGO HQ 23 3 HALSTED MORGAN N CARROLL OG DE 13 LAKE 12 16 RANDOLPH RANDOLPH MAY 17 18 WASHINGTON WASHINGTON 19 20 MORGAN NATIONAL HQ 21 HALSTED 34 KINZIE MAY KINZIE
FULTON MARKET NOTABLE DEVELOPMENT DESCRIPTIONS PAGE 1 OF 3 FULTON WEST (UNDER CONSTRUCTION) 1 2 Envisioned by Sterling Bay as a vendor village to accompany the West Loop s upcoming McDonald s corporate HQ, this 218,000-square-foot commercial development features ground floor retail and rooftop amenity deck for tenants. 210 N. Carpenter s 13-story height, however, has drawn opposition from its immediate neighbors who are now pushing for a community-wide height cap for new development. The project was set to go before the December meeting of the Chicago Plan Commission but was deferred. 1032 W FULTON (PROPOSED) Developer Summit Design+Build plans a new fivestory boutique office building on the surface lot located at 1032 W. Fulton. The plan would also renovate the adjacent three-story existing building that currently serves as Summit s office. Located next to his Lake Street Lofts building, architect/developer Patrick FitzGerald has proposed a new brick-clad residential building with 81 dwelling units, 65 parking spaces and approximately 2,415-square-feet of commercial retail space at the northwest corner of Lake and Sangamon. While the project has been pretty quiet over this past year, it is reportedly still on the table. ACE HOTEL (CONSTRUCTION) 3 Portland, Oregon-based Ace Hotel is preparing for its first foray into the Midwest market with this 159-room hotel developed by Sterling Bay and designed by GREC Architects. The project will repurpose one existing Fulton Market building but will also construct a glass and metal-clad addition. It will feature just 30 underground parking stalls. According to Crain s, developer Sterling Bay is hoping to unload the property for $90 million before the hotel opens in the spring of 2017. 4 Developed by DRW Holdings, the building at 832 W. Fulton Market is now expected to be the future home of Punch Bowl Social not upcoming Brooklyn Bowl, as previously reported. The project reuses the facade of an existing Fulton Market industrial building and adds a new threestory building. Chicago-based OKW Architects is behind the design. PUNCH BOWL SOCIAL (CONSTRUCTION) 800-810 W FULTON (PROPOSED) 5 This upcoming multi-levelflagship retail space would replace long-time Fulton Market seafood wholesaler Isaacson & Stein Fish Company. Developer R2 and architect Gensler plan to demolish and replace the two-story masonry structure at the corner as well as rehab the attached four-story building to the immediate west. 801-811 W FULTON (PROPOSED) 6 210 N CARPENTER (APPROVED) Originally planned as offices for an insurance firm, the building at 1330 W. Fulton was left abandoned and in a half-built state for a number of years before being resurrected by developer Sterling Bay. Once completed, the new nine-story building will feature a rooftop deck and parking for 610 vehicles. Online company review site Glassdoor is signed-on as the 290,000-square-foot project s anchor tenant. Other office tenants include Dyson, Skender Construction and developer Sterling Bay. Developer Shapack Partners plans a 7-story, 70,000-squarefoot office building for the lot just south of the Fulton Market District gateway signage. The masonry and concrete building was designed to reflect the area s existing industrial warehouses and will feature 80,000 feet of ground floor retail when complete. LAKE & SANGAMON (PROPOSED) 8 1055 W FULTON (PROPOSED) The 7,565-square-foot parking lot at 1055 W. Fulton is being actively marketed by Sterling Bay as a build-to-suit opportunity for a potential commercial tenant. While the firm provides a pair of conceptual renderings on its website, one in particular bears a resemblance to a well-known technology retailer that might rhyme with Snapple. 9 215 N PEORIA (PROPOSED) This 11-story brick and steel commercial building from Shapack Partners features a distinctive cross-bracing designed by Hartshorne Plunkard Architecture. Slated to replace the parking lot at 215 N Peoria, the project will contain 120,000-square-feet of rentable space, ground floor retail, and a rooftop tenant amenity level. 10 THE HOXTON HOTEL (CONSTRUCTION) The London-based Hoxton Hotel is eyeing expansion outside of Europe to hip places such as Brooklyn so it s only natural the group landed in Fulton Market. Designed as a collaboration between New York s Morris Adjmi and Chicago s GREC Architects, the project would feature roughly 170 rooms, 1,200-square-feet of retail, a rooftop terrace, and two floors of office space. With demolition just about to begin, Developer Shapack Partners is aiming to begin construction early next year. 11 LAKE & HALSTED (APPROVED) Previously proposed as an extended stay hotel development, the empty lot at the southwest corner of Lake and Halsted in Chicago s Fulton Market will now be getting a 240-foot office tower designed by GREC. Project developers Shapack Partners and Focus Development plan to purchase an additional 4.5 points of Floor Area Ratio (FAR) by paying $2.39 million into the Neighborhood Opportunity Fund. DEVELOPMENT INFORMATION PROVIDED BY 7 12
FULTON MARKET NOTABLE DEVELOPMENT DESCRIPTIONS PAGE 2 OF 3 BRIDGFORD FOODS (APPROVED) 13 Long-time Fulton Market neighbor Bridgford Foods is approved for a development project including two buildings designed by Hartshorne Plunkard Architecture. Plans call for a five-story boutique office building across the street from 17-story, tower consisting of ground floor commercial space topped by two levels of parking and 322 rental units. 14 This 136-foot masonry and glass structure from MCZ Development and Hartshorne Plunkard Architecture will include 15,000-square-feet of ground floor retail topped by 40,000-square-feet of Class A office space and 75 dwelling units. In addition to the building s extensive green roof, a penthouse amenity level will feature a sundeck and private dog run. 15 Last year, Tucker Development purchased nearly the block of 900 West Randolph previously anchored by Quality Foods. The Highland Park-based developer plans a renovation of the block s landmarked structures plus a 19-story, 260-unit residential tower from OKW Architects to in place of an existing surface parking lot. In addition, the project calls for approximately 46,000 SF of retail and 45,000 SF of office space in the existing historical building. 16 Following a somewhat turbulent gestation and approval process, Nobu Hospitality Group is finally moving forward on its new boutique hotel and restaurant. Originally proposed as 12-story design, the project was cut down to eight levels before finally reemerging as an 11-story building from Modif Architecture. With a construction permit finally secured, foundation work is expected to begin any day now. THE ABERDEEN (CONSTRUCTION) 900 WEST (CONSTRUCTION) NOBU HOTEL (CONSTRUCTION) EQUINOX HOTEL (CONSTRUCTION) 17 18 While a previous plan for an all residential tower at 723-729 W. Randolph Street turned out to be a non-starter, it was revealed this past winter that a 369-foot hotel under Equinox fitness club brand is slated for the site. Developed by Related Midwest, the high-rise will reportedly contain 145 guest rooms and will be topped by 20 condominiums. Demolition work recently began to clear the 1115 W WASHINGTON (CONSTRUCTION) Developer Peerless Real Estate Investment plans to bring a pair of nearly identical 9-story, 28-unit condo buildings to 1111 W. Washington Boulevard and 19 N. May Street. Featuring a combined 56 units with roughly two parking spaces per residence, prices in the proposed development are expected to be quite high. The design comes from Chicago s Booth Hansen & Associates. 19 CA ON WASHINGTON (CONSTRUCTION) Similar to the Belgravia Group s other family of CA developers in the West Loop, work recently began on this 70-unit condo development penned by Sullivan Goulette & Wilson. The project replaces an auto mechanic and surrounding parking lot. 20 UNION WEST (PROPOSED) Developers ZOM Mid-Atlantic & Verde Communities plan a trio of 8-, 15-, and 17-story buildings on property currently owned by the Haymarket Group. Designed by bkl Architecture, the proposal s combined 405 rental units and roughly 8,000 square feet of ground floor retail space would share a well-concealed 232-stall parking garage. 1375 W FULTON (PROPOSED) This 18-story, 300-unit rental tower proposed for the corner of Fulton Market and Ogden would be one of the neighborhood s tallest developments, especially given its location so far west. Developed by High Street Residential and designed by Minneapolis-based ESG Architects, the project would also feature parking for 156 vehicles and nearly 15,000 square feet of ground-floor commercial space. The site is currently a parking lot. 22 COYNE COLLEGE (PROPOSED) existing low-rise structures from the site. After buying the former Coyne College building at 330 N. Green, Sterling Bay revealed plans to repostion the property as new office space. The busy developer also plans to build a new office building on Coyne s existing parking lot. Combined, the property is expected to support as much as 1 million square feet of new commercial space. Plans of including a West Loop public library have also been discussed, however, nothing has been officially announced. 900 W WASHINGTON (APPROVED) Developer Taris Real Estate hopes to build a dark 10-story to high-end condo building at the corner of Washington and Peoria. The project, which will feature only 22 large family style units along with 24 parking spaces, could command prices reaching as high as $500 per square foot. Located at the southwest corner of Lake and Racine, this approved commercial development from McCaffery Interests will contain 139,000 square feet of office space, nearly 11,000 square feet of retail, and interior parking for 45 vehicles. Recently appearing in a promotion marketing flyer, the property will need a zoning change if it is to be realized as drawn. DEVELOPMENT INFORMATION PROVIDED BY 21 23 1201 W LAKE (APPROVED) 24
FULTON MARKET NOTABLE DEVELOPMENT DESCRIPTIONS PAGE 3 OF 3 820 W FULTON & 220 N PEORIA (PROPOSED) LAKE & ADA (PROPOSED) 25 New York real estate developer Thor Equities recently closed a deal that would see the existing building at 816-820 W. Fulton Market (pictured) rehabbed as well as a new fivestory structure constructed at 216-226 N. Peoria Street. The mixed-use projects are expected to contain both new office and retail space. Sterling Bay, the local firm responsible for some of the West Loop s most transformative commercial projects is looking to venture into residential development at the southwest corner of Lake and Ada. Currently a pair of large parking lots, the parcel would be rezoned to support a 10-story building with 263 rental units. The new structure would include a rooftop pool and dog run plus ground floor commercial space and garage parking for 101 vehicles. 31 936 W FULTON (CONSTRUCTION) 26 Back in 2015 developer Madison capital purchased 936 W Fulton to transform the former meat packaging building into premier retail. The project consists of 24,663 SF of retail throughout the building s lower level, first floor and second floor. The only tenant currently signed on for the project is Aesop occupying just over 750 SF. 185 N MORGAN (CONSTRUCTION) Developed by developer Shapack partners, the 1 story building consists of 9,200 SF of retail. The retail is leased to Shake Shack, Honeygrow and Do-Rite Donuts & Coffee. The project is currently in the process of building out the tenant s spaces and is expected to be completed this summer. 32 27 939 W FULTON (PROPOSED) Back in 2015 developer Madison capital purchased 939 W Fulton to transform the former meat packaging building into premier retail and loft office. The project consists of 12,485 SF of retail and approximately 25,603 SF of high-end loft office on the building s 2nd and third floors. Developed by developer Sterling Bay and recently sold to The Feil Organization, a New York investment group, back in December of 2016. The property consists of 23,000 SF of retail fully leased to Anthropologie, Sweetgreen and Starbucks Reserve. The site is currently under construction and is expected to be completed this summer. 28 Chicago based L3 Capital purchased the 30,000 SF El Cubano Wholesale Meats building for $14.5 million. L3 Capital plans to redevelop the property to high end retail on the ground floor and is open to either high end retail or loft office on 2nd floor. This is L3 Capital s first Fulton Market investment, however, the L3 Capital owns assets in other high end retail districts throughout the city. 29 Chicago based Sterling Bay purchased the former meat packaging building to transform the property to high-end retail and office. The project consists of approximately 6,650 SF on the ground floor and 7,465 SF on the 2nd floor. Sterling Bay is waiting for a tenant to sign on prior to proceeding with the project s construction. 30 Chicago based McCaffery Interests purchased the former meat packaging building to transform the property to highend retail and office. The project consists of approximately 12,929 SF on the ground floor and 18,880 SF on the 2nd floor. McCaffery Interests is waiting for a tenant to sign on prior to proceeding with the project s construction. 914-926 W FULTON (APPROVED) 1100 W FULTON (PROPOSED) 1115 W FULTON (PROPOSED) DEVELOPMENT INFORMATION PROVIDED BY 1000 W RANDOLPH (CONSTRUCTION) 33 333 N OGDEN (CONSTRUCTION) Blue Plate Catering is currently under construction with its new 70,000 SF campus, which will help the company hire more than 500 new employees. The project will also include a 5,000 SF retail space that will serve food made in house. The rooftop will include a dining area and garden where Blue Plate Catering will plant herbs for use in Blue Plate meals. 34 1200 W FULTON (UNDER CONTRACT) Several owners in the Fulton Market District have a deal to sell their entire block for more than $65 million. The site is under contract with Chicago-based developer IBT Group and hedge fund investor Andrew Bluhm. The sale in contingent on obtaining a zoning that would permit the developers to knock down and redevelop the approximately 145,000 SF with larger new structures as part of a mixed-use project that would include a combination of residential, retail and office uses. 35 312 N CARPENTER (PROPOSED) New York-based Madison Capital and D.C.-based ASB Real Estate Investment hope to construct a seven-story office development at the corner of Carpenter Street and Carroll Avenue. The planned brick-clad building comes from Chicago-based Hartshorne Plunkard Architecture and would replace an old low-rise industrial structure. As proposed, the development would feature ground floor retail, a rooftop terrace for tenants, and at least 27 on-site parking stalls. 36
SVN CHICAGO COMMERCIAL 940 WEST ADAMS STREET, 2ND FLOOR CHICAGO, ILLINOIS 60607 WWW.SVNCHICAGO.COM All Sperry Van Ness Offices Independently Owned & Operated. The information listed in this proposal has been obtained from sources we believe to be reliable, however we accept no responsibility for its correctness. COMMERCIAL REAL ESTATE ADVISORS CHAD SCHROEDL 312.756.7329 CHAD.SCHROEDL@SVN.COM SCOTT MAESEL 312.676.1860 SCOTT.MAESEL@SVN.COM
FOR LEASE CREATIVE LOFT OFFICE 3RD FLOOR - UNIT 301 COMMERCIAL REAL ESTATE ADVISORS CHAD SCHROEDL 312.756.7329 CHAD.SCHROEDL@SVN.COM SCOTT MAESEL 312.676.1860 SCOTT.MAESEL@SVN.COM
HIGHLIGHTS Top floor timber loft office available Private keyed direct elevator access Incredible Fulton Market location 1 block from CTA Station Located between Google s Midwest HQ and new McDonald s Global HQ Surrounded by all the best restaurants and shopping COMMERCIAL LOFT OFFICE - UNIT 301 Currently configured as 4,050 SF creative loft office with hardwood floors, exposed brick and custom lighting. In addition, the layout includes: Three private offices Glass conference room Restrooms Kitchen Reception Large open area OVERVIEW LEASE RATE: AVAILABLE SPACE: $29/SF MG 4,050 SF Creative loft office ZONING: C1-2 MARKET: Fulton Market
COMMERCIAL LOFT - UNIT 301 - INTERIOR PHOTOS
COMMERCIAL LOFT - UNIT 301 FLOOR PLAN LAKE STREET ABERDEEN
FULTON MARKET LOCATION DESCRIPTION DEMOGRAPHIC SNAPSHOT The West Loop is Chicago s former warehouse district and is among the most rapidly developing neighborhoods in the country. Originally a mix of factories, meat markets, and wholesale produce outlets, the neighborhood has seen a major demographic shift over the last decade. The historic brick and timber loft buildings that define the neighborhood have largely been converted to other uses, including a mix of luxury condos, creative offices, art galleries, critically acclaimed restaurants, hotels, and retail boutiques. MEDIAN AGE AVERAGE INCOME PER HOUSEHOLD The West Loop has evolved into a must-see destination for locals and visitors who want to eat well. With new restaurant concepts opening on almost a weekly basis, the area boasts everything from Michelin Star rated Grace, Blackbird, Moto, and Sepia restaurants to more casual options like Green Street Smoked Meats, Shake Shack, Parlor Pizza, Federales, and Umami Burger. Other well-known dining options include Girl and the Goat, Au Cheval, Lena Brava, Aviary, Momotaro, City Winery, Publican and Avec. 32.8 $125,768 The neighborhood s international reputation continues to grow with the opening of Google s new Midwest headquarters, McDonald s Global headquarters, Soho House hotel, Nobu Restaurant and hotel, Hoxton hotel, the We Work co-working building, and the upcoming Punch Bowl Social and Ace Hotel. Other companies calling the West Loop home include Uber, LinkedIn, Twitter and Gogo. High-end retailers are also recognizing the area s potential with the recent additions of Anthropologie, Free People, Billy Reid and Maria Pinto. Excellent public transportation options including Metra train access at Ogilvie and Union Station combined with the city s first new CTA station in almost a decade that opened at Morgan and Lake in 2012 will continue to attract businesses and residents alike and make the West Loop one of Chicago s most exciting and desirable neighborhoods. To learn more about the West Loop, visit our blog at: www.westloopreport.com. ESTIMATED DAYTIME POPULATION 93,963 ESTIMATED POPULATION 51,734 *DEMOGRAPHIC SNAPSHOT DATA PROVIDED BY APPLIED GEOGRAPHIC SOLUTIONS
FULTON MARKET NOTABLE TENANTS 1330 W FULTON - OFFICE 1000 W FULTON - CHICAGO HQ 113 N GREEN - HOTEL 821 W FULTON - RETAIL 185 N MORGAN - RESTAURANT 845 W RANDOLPH - RETAIL 1000 W FULTON - RESTAURANT 1 N HALSTED - RETAIL 1330 W FULTON - OFFICE 1101 W RANDOLPH - RETAIL 725 W RANDOLPH - FITNESS 1330 W FULTON - OFFICE 1000 W FULTON - OFFICE 1000 W RANDOLPH - RETAIL 1025 W RANDOLPH - NATIONAL HQ 1000 W RANDOLPH - RETAIL
1K FULTON Located at 1000 W Fulton Current home of Google s Midwest HQ, SRAM, The Mill Visual Effects and Sandbox Industries Retail consists of Swift & Sons Steakhouse and South Central Bank Estimated employee population of 2,500 530,000 SF development, which Google occupies approximately 360,000 SF All 1K Fulton tenants signed long term leases THE GOOGLE & MCDONALD S EFFECT RANDOLPH WEST Located at 110 N Carpenter Future home of McDonald s Global HQ McDonald s will occupy 485,000 SF Development will house approximately 2,000 employees Estimated completion in summer of 2018 McDonald s signed a 15-year lease McDonald s vendors, including Coca-Cola are expected to relocate to the Fulton Market neighborhood
36 35 1 FULTON 29 30 22 26 2 4 14 5 11 15 33 25 10 8 32 MORGAN 23 6 25 7 24 28 FULTON 27 9 LAKE 31 CHICAGO HQ 23 3 HALSTED MORGAN N CARROLL OG DE 13 LAKE 12 16 RANDOLPH RANDOLPH MAY 17 18 WASHINGTON WASHINGTON 19 20 MORGAN NATIONAL HQ 21 HALSTED 34 KINZIE MAY KINZIE
FULTON MARKET NOTABLE DEVELOPMENT DESCRIPTIONS PAGE 1 OF 3 FULTON WEST (UNDER CONSTRUCTION) 1 2 Envisioned by Sterling Bay as a vendor village to accompany the West Loop s upcoming McDonald s corporate HQ, this 218,000-square-foot commercial development features ground floor retail and rooftop amenity deck for tenants. 210 N. Carpenter s 13-story height, however, has drawn opposition from its immediate neighbors who are now pushing for a community-wide height cap for new development. The project was set to go before the December meeting of the Chicago Plan Commission but was deferred. 1032 W FULTON (PROPOSED) Developer Summit Design+Build plans a new fivestory boutique office building on the surface lot located at 1032 W. Fulton. The plan would also renovate the adjacent three-story existing building that currently serves as Summit s office. Located next to his Lake Street Lofts building, architect/developer Patrick FitzGerald has proposed a new brick-clad residential building with 81 dwelling units, 65 parking spaces and approximately 2,415-square-feet of commercial retail space at the northwest corner of Lake and Sangamon. While the project has been pretty quiet over this past year, it is reportedly still on the table. ACE HOTEL (CONSTRUCTION) 3 Portland, Oregon-based Ace Hotel is preparing for its first foray into the Midwest market with this 159-room hotel developed by Sterling Bay and designed by GREC Architects. The project will repurpose one existing Fulton Market building but will also construct a glass and metal-clad addition. It will feature just 30 underground parking stalls. According to Crain s, developer Sterling Bay is hoping to unload the property for $90 million before the hotel opens in the spring of 2017. 4 Developed by DRW Holdings, the building at 832 W. Fulton Market is now expected to be the future home of Punch Bowl Social not upcoming Brooklyn Bowl, as previously reported. The project reuses the facade of an existing Fulton Market industrial building and adds a new threestory building. Chicago-based OKW Architects is behind the design. PUNCH BOWL SOCIAL (CONSTRUCTION) 800-810 W FULTON (PROPOSED) 5 This upcoming multi-levelflagship retail space would replace long-time Fulton Market seafood wholesaler Isaacson & Stein Fish Company. Developer R2 and architect Gensler plan to demolish and replace the two-story masonry structure at the corner as well as rehab the attached four-story building to the immediate west. 801-811 W FULTON (PROPOSED) 6 210 N CARPENTER (APPROVED) Originally planned as offices for an insurance firm, the building at 1330 W. Fulton was left abandoned and in a half-built state for a number of years before being resurrected by developer Sterling Bay. Once completed, the new nine-story building will feature a rooftop deck and parking for 610 vehicles. Online company review site Glassdoor is signed-on as the 290,000-square-foot project s anchor tenant. Other office tenants include Dyson, Skender Construction and developer Sterling Bay. Developer Shapack Partners plans a 7-story, 70,000-squarefoot office building for the lot just south of the Fulton Market District gateway signage. The masonry and concrete building was designed to reflect the area s existing industrial warehouses and will feature 80,000 feet of ground floor retail when complete. LAKE & SANGAMON (PROPOSED) 8 1055 W FULTON (PROPOSED) The 7,565-square-foot parking lot at 1055 W. Fulton is being actively marketed by Sterling Bay as a build-to-suit opportunity for a potential commercial tenant. While the firm provides a pair of conceptual renderings on its website, one in particular bears a resemblance to a well-known technology retailer that might rhyme with Snapple. 9 215 N PEORIA (PROPOSED) This 11-story brick and steel commercial building from Shapack Partners features a distinctive cross-bracing designed by Hartshorne Plunkard Architecture. Slated to replace the parking lot at 215 N Peoria, the project will contain 120,000-square-feet of rentable space, ground floor retail, and a rooftop tenant amenity level. 10 THE HOXTON HOTEL (CONSTRUCTION) The London-based Hoxton Hotel is eyeing expansion outside of Europe to hip places such as Brooklyn so it s only natural the group landed in Fulton Market. Designed as a collaboration between New York s Morris Adjmi and Chicago s GREC Architects, the project would feature roughly 170 rooms, 1,200-square-feet of retail, a rooftop terrace, and two floors of office space. With demolition just about to begin, Developer Shapack Partners is aiming to begin construction early next year. 11 LAKE & HALSTED (APPROVED) Previously proposed as an extended stay hotel development, the empty lot at the southwest corner of Lake and Halsted in Chicago s Fulton Market will now be getting a 240-foot office tower designed by GREC. Project developers Shapack Partners and Focus Development plan to purchase an additional 4.5 points of Floor Area Ratio (FAR) by paying $2.39 million into the Neighborhood Opportunity Fund. DEVELOPMENT INFORMATION PROVIDED BY 7 12
FULTON MARKET NOTABLE DEVELOPMENT DESCRIPTIONS PAGE 2 OF 3 BRIDGFORD FOODS (APPROVED) 13 Long-time Fulton Market neighbor Bridgford Foods is approved for a development project including two buildings designed by Hartshorne Plunkard Architecture. Plans call for a five-story boutique office building across the street from 17-story, tower consisting of ground floor commercial space topped by two levels of parking and 322 rental units. 14 This 136-foot masonry and glass structure from MCZ Development and Hartshorne Plunkard Architecture will include 15,000-square-feet of ground floor retail topped by 40,000-square-feet of Class A office space and 75 dwelling units. In addition to the building s extensive green roof, a penthouse amenity level will feature a sundeck and private dog run. 15 Last year, Tucker Development purchased nearly the block of 900 West Randolph previously anchored by Quality Foods. The Highland Park-based developer plans a renovation of the block s landmarked structures plus a 19-story, 260-unit residential tower from OKW Architects to in place of an existing surface parking lot. In addition, the project calls for approximately 46,000 SF of retail and 45,000 SF of office space in the existing historical building. 16 Following a somewhat turbulent gestation and approval process, Nobu Hospitality Group is finally moving forward on its new boutique hotel and restaurant. Originally proposed as 12-story design, the project was cut down to eight levels before finally reemerging as an 11-story building from Modif Architecture. With a construction permit finally secured, foundation work is expected to begin any day now. THE ABERDEEN (CONSTRUCTION) 900 WEST (CONSTRUCTION) NOBU HOTEL (CONSTRUCTION) EQUINOX HOTEL (CONSTRUCTION) 17 18 While a previous plan for an all residential tower at 723-729 W. Randolph Street turned out to be a non-starter, it was revealed this past winter that a 369-foot hotel under Equinox fitness club brand is slated for the site. Developed by Related Midwest, the high-rise will reportedly contain 145 guest rooms and will be topped by 20 condominiums. Demolition work recently began to clear the 1115 W WASHINGTON (CONSTRUCTION) Developer Peerless Real Estate Investment plans to bring a pair of nearly identical 9-story, 28-unit condo buildings to 1111 W. Washington Boulevard and 19 N. May Street. Featuring a combined 56 units with roughly two parking spaces per residence, prices in the proposed development are expected to be quite high. The design comes from Chicago s Booth Hansen & Associates. 19 CA ON WASHINGTON (CONSTRUCTION) Similar to the Belgravia Group s other family of CA developers in the West Loop, work recently began on this 70-unit condo development penned by Sullivan Goulette & Wilson. The project replaces an auto mechanic and surrounding parking lot. 20 UNION WEST (PROPOSED) Developers ZOM Mid-Atlantic & Verde Communities plan a trio of 8-, 15-, and 17-story buildings on property currently owned by the Haymarket Group. Designed by bkl Architecture, the proposal s combined 405 rental units and roughly 8,000 square feet of ground floor retail space would share a well-concealed 232-stall parking garage. 1375 W FULTON (PROPOSED) This 18-story, 300-unit rental tower proposed for the corner of Fulton Market and Ogden would be one of the neighborhood s tallest developments, especially given its location so far west. Developed by High Street Residential and designed by Minneapolis-based ESG Architects, the project would also feature parking for 156 vehicles and nearly 15,000 square feet of ground-floor commercial space. The site is currently a parking lot. 22 COYNE COLLEGE (PROPOSED) existing low-rise structures from the site. After buying the former Coyne College building at 330 N. Green, Sterling Bay revealed plans to repostion the property as new office space. The busy developer also plans to build a new office building on Coyne s existing parking lot. Combined, the property is expected to support as much as 1 million square feet of new commercial space. Plans of including a West Loop public library have also been discussed, however, nothing has been officially announced. 900 W WASHINGTON (APPROVED) Developer Taris Real Estate hopes to build a dark 10-story to high-end condo building at the corner of Washington and Peoria. The project, which will feature only 22 large family style units along with 24 parking spaces, could command prices reaching as high as $500 per square foot. Located at the southwest corner of Lake and Racine, this approved commercial development from McCaffery Interests will contain 139,000 square feet of office space, nearly 11,000 square feet of retail, and interior parking for 45 vehicles. Recently appearing in a promotion marketing flyer, the property will need a zoning change if it is to be realized as drawn. DEVELOPMENT INFORMATION PROVIDED BY 21 23 1201 W LAKE (APPROVED) 24
FULTON MARKET NOTABLE DEVELOPMENT DESCRIPTIONS PAGE 3 OF 3 820 W FULTON & 220 N PEORIA (PROPOSED) LAKE & ADA (PROPOSED) 25 New York real estate developer Thor Equities recently closed a deal that would see the existing building at 816-820 W. Fulton Market (pictured) rehabbed as well as a new fivestory structure constructed at 216-226 N. Peoria Street. The mixed-use projects are expected to contain both new office and retail space. Sterling Bay, the local firm responsible for some of the West Loop s most transformative commercial projects is looking to venture into residential development at the southwest corner of Lake and Ada. Currently a pair of large parking lots, the parcel would be rezoned to support a 10-story building with 263 rental units. The new structure would include a rooftop pool and dog run plus ground floor commercial space and garage parking for 101 vehicles. 31 936 W FULTON (CONSTRUCTION) 26 Back in 2015 developer Madison capital purchased 936 W Fulton to transform the former meat packaging building into premier retail. The project consists of 24,663 SF of retail throughout the building s lower level, first floor and second floor. The only tenant currently signed on for the project is Aesop occupying just over 750 SF. 185 N MORGAN (CONSTRUCTION) Developed by developer Shapack partners, the 1 story building consists of 9,200 SF of retail. The retail is leased to Shake Shack, Honeygrow and Do-Rite Donuts & Coffee. The project is currently in the process of building out the tenant s spaces and is expected to be completed this summer. 32 27 939 W FULTON (PROPOSED) Back in 2015 developer Madison capital purchased 939 W Fulton to transform the former meat packaging building into premier retail and loft office. The project consists of 12,485 SF of retail and approximately 25,603 SF of high-end loft office on the building s 2nd and third floors. Developed by developer Sterling Bay and recently sold to The Feil Organization, a New York investment group, back in December of 2016. The property consists of 23,000 SF of retail fully leased to Anthropologie, Sweetgreen and Starbucks Reserve. The site is currently under construction and is expected to be completed this summer. 28 Chicago based L3 Capital purchased the 30,000 SF El Cubano Wholesale Meats building for $14.5 million. L3 Capital plans to redevelop the property to high end retail on the ground floor and is open to either high end retail or loft office on 2nd floor. This is L3 Capital s first Fulton Market investment, however, the L3 Capital owns assets in other high end retail districts throughout the city. 29 Chicago based Sterling Bay purchased the former meat packaging building to transform the property to high-end retail and office. The project consists of approximately 6,650 SF on the ground floor and 7,465 SF on the 2nd floor. Sterling Bay is waiting for a tenant to sign on prior to proceeding with the project s construction. 30 Chicago based McCaffery Interests purchased the former meat packaging building to transform the property to highend retail and office. The project consists of approximately 12,929 SF on the ground floor and 18,880 SF on the 2nd floor. McCaffery Interests is waiting for a tenant to sign on prior to proceeding with the project s construction. 914-926 W FULTON (APPROVED) 1100 W FULTON (PROPOSED) 1115 W FULTON (PROPOSED) DEVELOPMENT INFORMATION PROVIDED BY 1000 W RANDOLPH (CONSTRUCTION) 33 333 N OGDEN (CONSTRUCTION) Blue Plate Catering is currently under construction with its new 70,000 SF campus, which will help the company hire more than 500 new employees. The project will also include a 5,000 SF retail space that will serve food made in house. The rooftop will include a dining area and garden where Blue Plate Catering will plant herbs for use in Blue Plate meals. 34 1200 W FULTON (UNDER CONTRACT) Several owners in the Fulton Market District have a deal to sell their entire block for more than $65 million. The site is under contract with Chicago-based developer IBT Group and hedge fund investor Andrew Bluhm. The sale in contingent on obtaining a zoning that would permit the developers to knock down and redevelop the approximately 145,000 SF with larger new structures as part of a mixed-use project that would include a combination of residential, retail and office uses. 35 312 N CARPENTER (PROPOSED) New York-based Madison Capital and D.C.-based ASB Real Estate Investment hope to construct a seven-story office development at the corner of Carpenter Street and Carroll Avenue. The planned brick-clad building comes from Chicago-based Hartshorne Plunkard Architecture and would replace an old low-rise industrial structure. As proposed, the development would feature ground floor retail, a rooftop terrace for tenants, and at least 27 on-site parking stalls. 36
SVN CHICAGO COMMERCIAL 940 WEST ADAMS STREET, 2ND FLOOR CHICAGO, ILLINOIS 60607 WWW.SVNCHICAGO.COM All Sperry Van Ness Offices Independently Owned & Operated. The information listed in this proposal has been obtained from sources we believe to be reliable, however we accept no responsibility for its correctness. COMMERCIAL REAL ESTATE ADVISORS CHAD SCHROEDL 312.756.7329 CHAD.SCHROEDL@SVN.COM SCOTT MAESEL 312.676.1860 SCOTT.MAESEL@SVN.COM