Fulton Market Continues Its Hotspot Development Streak
Developer Sterling Bay announced plans for several different sites in the West Loop’s Fulton Market late last year. The developer released more details of its plans — four projects total — during a meeting with the West Loop Community Organization and Alderman Walter Burnett, Jr. (27th Ward), according to Curbed Chicago.
Sterling Bay is proposing plans for sites including:
- 330 N. Green St. Sterling Bay expects to build a 20-story office building at the site of the former Coyne College building, according to the report. This site will have retail space and a 250-car parking garage.
- 333 N. Green St. Sterling Bay hopes to bring a 19-story office building to this site. The building will also include ground-floor retail space and four-levels of parking space, according to the report.
- 360 N. Green St. Yet another office building is in the works for this site. Plans for the 20-story building include a pedestrian walkway and a unique exterior made of both glass and industrial steel beams, according to the report.
- 345 N. Morgan St. Instead of an office tower, Sterling Bay hopes to build a movie theater and parking garage on this site. The building would have retail space and two floors for a total of 11 movie theater screens, according to the report. This development would also have parking space.
The influx of office space comes ahead of Amazon’s final decision for its HQ2 campus location. Fulton Market is one of the 10 official sites proposed by Illinois and Chicago. Google is also reportedly considering Chicago for a new operations center. Sterling Bay’s developments could be attractive options for the two tech companies, according to the Curbed Chicago report.
Sterling Bay is hardly the only developer hoping to transform Fulton Market. IBT Group and Lamb Properties proposed a 1.2 million-square-foot mixed-use development for the 1200 block of West Fulton Street. The development would include a hotel, retail space, and office space.
Fulton Market is also poised for some major residential development. Real estate company MCZ Development bought an entire block of property in the neighborhood for $15.25 million, according to a Crain’s Chicago Business report. The property, 400 N. May St., includes a 75,000-square-foot office building and a parking lot, according to the report. While MCZ has yet to comment on its plans for the Fulton Market property, the company largely focuses on residential work.
In other residential development news, Related Midwest and Tucker Development proposed a 51-story residential high-rise for 900 W. Randolph St. If the project moves forward, it will feature 300 residential units and 220 parking spaces.