CHICAGO | 1200 W Fulton | 545 FT & 465 FT| 43 & 37 FLOORS

[BVictor1]

https://www.chicagobusiness.com/comm...ces-apartments

This would be Fulton Market's biggest project yet

A massive, $600 million development calls for office and lab space, apartments, a hotel and a big fitness center in the red-hot Fulton Market District.

January 12, 2022 01:07 PM UPDATED 18 MINUTES AGO
ALBY GALLUN

A Chicago developer is getting ready to unveil plans for a $600 million mixed-use project in the Fulton Market District, the biggest real estate development to date in the fast-growing neighborhood.

Fulton Street Cos. wants to build office and lab space, apartments, a hotel and a big fitness center on a site at 1200 W. Fulton St., said Alex Najem, the firm’s founder and CEO. The 1.5-million-square-foot project underscores Najem’s unbridled exuberance for Fulton Market, a neighborhood that shook off the pandemic last year and is booming once again, with developers starting new apartment towers and businesses gobbling up office space. Fulton Street itself is getting ready to break ground on a 34-story apartment tower across the street and is close to lining up an anchor tenant for a 530,000-square-foot office building it plans about five blocks east, Najem said.

Najem has cleared one big hurdle: buying the development site. A Fulton Street venture recently paid $42 million for the 2-acre property at the northwest corner of Fulton Street and Racine Avenue, he said. Next up: Fulton Street plans to present its proposal for the site next month to the Chicago Department of Planning & Development’s Committee on Design, he said.

But he’s is teaming up on the project with some well-established, deep-pocketed partners: Chris Merrill, the co-founder and CEO of Chicago-based real estate investment firm Harrison Street Real Estate Capital; and Shanna Khan, the daughter of Shahid Kahn, the owner of the Jacksonville Jaguars and Flex-N-Gate, a big auto supplier based in Urbana.

The development will include 500 apartments and 200 hotel rooms in a roughly 50-story tower; a 25-story, 500,000-square-foot office building; and a 10-story, 200,000-square-foot building catering to life sciences companies, Najem said. The fitness center would encompass 200,000 square feet.

“We feel comfortable that the community as well as the city is amenable to height as long as there is significant green space on the ground level,” he said.
Chicago-based Hartshorne Plunkard Architecture is designing the project, with Morris Adjmi Architects of New York playing a consulting role, Najem said.

[Randomguy34]

ASKFJDHKS, 600 FOOTER PROPOSED FOR FULTON MARKET!

This would be Fulton Market's biggest project yet

Fulton Street Cos. wants to build office and lab space, apartments, a hotel and a big fitness center on a site at 1200 W. Fulton St., said Alex Najem, the firm’s founder and CEO.
....
The development will include 500 apartments and 200 hotel rooms in a roughly 50-story tower; a 25-story, 500,000-square-foot office building; and a 10-story, 200,000-square-foot building catering to life sciences companies, Najem said. The fitness center would encompass 200,000 square feet. Najem declined to disclose the tenant’s name, saying only that “it’s a national group that’s expanding.”

It’s unclear whether Fulton Market residents or city officials will go for a 50-story tower, which would be taller than any building completed or under construction in the neighborhood. At about 600 feet, it would be more than 100 feet higher than an apartment high-rise that Related Midwest is constructing at 900 W. Randolph St. Related Midwest had originally planned a 51-story, 570-foot tower on the site, but shrunk it to 43 stories after neighborhood groups criticized it as too tall.

Najem thinks neighbors will support Fulton Street’s plan because the project will include a lot of green space open to the public.

https://www.chicagobusiness.com/comm...ces-apartments

[Tar Heel]

build it!!!

[lakeshoredrive]

I think this location will allow for it to build it at its full height. I looked up the address and it's closer to Odgen and further away from the west loop core where there are probably nimbys.

[WestTowner]

Originally Posted by lakeshoredrive

I think this location will allow for it to build it at its full height. I looked up the address and it's closer to Odgen and further away from the west loop core where there are probably nimbys.

There are a few of us who live near-ish by on Hubbard and Kinzie, as well as a May. Its just far enough away for people to be apathetic potentially, especially have the L the NIMBYs took on 400 n Elizabeth. Burnett likes small height chops to show he listens, and I could see that happen here. I'm interested to hear how much parking it'd have now that it would qualify for TOD. If its zero, build it tomorrow.

[Randomguy34]

^ Fulton St was recently designated a Pedestrian Street, so TOD boundaries should now be extended to this project

[twister244]

Jesus.....

I was already blown away by what's happening in the West Loop, and am excited to watch 900 West Randolph rise, but this is something else....

If this were to actually break ground, between something like that, Lincoln Yards, and other projects south of the Loop would completely begin redefining what the traditional boundaries of the skyline are.

The big question is of course financing and NIMBYism.....

But, this immediate neighborhood has less residents compared to where 900 Randolph is.

[Steely Dan]

A 600 footer all the way out by Racine?

That sure would be something!

But as someone else said, it could just be a ploy to allow Burnett to extract a height reduction as a bone-throw to the head-in-their-ass west loop NIMBYs.

[thegoatman]

Oh wow this is really going to spread the skyline west. How much longer till the west loop gets a 700 footer?

[r18tdi]

Originally Posted by Steely Dan

But as someone else said, it could just be a ploy to allow Burnett to extract a height reduction as a bone-throw to the head-in-their-ass west loop NIMBYs.

It's a possibility for sure. But I assumed the same thing was taking place when Fulton Street proposed the project across the street (1201 W. Fulton) and that tower actually grew from 381 to 414 feet. Maybe they're feeling lucky?

[twister244]

Originally Posted by thegoatman

Oh wow this is really going to spread the skyline west. How much longer till the west loop gets a 700 footer?

You're thinking too small.... Let's go for a supertall! Go big or go home I say. If the neighborhood is already on fire, might as well take advantage of it.

[rgarri4]

Oh wow! This is pretty awesome!

[BVictor1]

Current site conditions.

[left of center]

Wow, this came out of left field! Build it!

Apparently nothing of note being lost in demolition for this project, which is a plus.

[BVictor1]

Originally Posted by left of center

Wow, this came out of left field! Build it!

Apparently nothing of note being lost in demolition for this project, which is a plus.

Not really.

Quoting myself from Dec 17, 2021 in the Boom Rundown

Originally Posted by BVictor1

Things to keep an eye out for in early 2022…

We should be hearing and seeing something in the near future regarding Bridgford Foods. I don’t have much info other than things have been redesigned and it’ll be taller…. It won’t be as tall as 900 W. Randolph, but it’ll be taller than the previous 17-story iteration.

I’ve heard from a second person that we should see something decent for Racine & Fulton (roughly). I’ve not seen anything, but I’ve heard it could be about 500’.
That’s all I have at the moment.

Thank goodness I was wrong on the height.

[rgarri4]

Excited to see renderings. Till then here it is in my model.

[Steely Dan]

Originally Posted by rgarri4

What city is this?

Peoria finally building itself a real deal skyline?

[the urban politician]

I like this proposal

I really like that A frame roofish building thing. Looks like something they would build in Denmark or one of those Nordic cities

[BVictor1]

Originally Posted by Steely Dan

What city is this?

Peoria finally building itself a real deal skyline?

Lol... It's amazing what's being built and proposed in this area in such a short amount of time.

The skyline just in FM will be denser and taller than most midwest cities.

Originally Posted by rgarri4

Excited to see renderings. Till then here it is in my model.

The Crain's article said the project would be going before the Committee On Design next month, so we should see renderings soon.

[thegoatman]

Looking more and more like Toronto