Potential groundbreaking have been announced for two Fulton Market projects after securing the land sale and anchor tenants this week. The two projects in question are the life sciences building at 400 N Elizabeth Street and the office building at 360 N Green Street, each led by different developers but delivering similar amounts of leasable space at each end of the quickly growing neighborhood. All together they will bring roughly 1 million square feet of new commercial space in an area poaching new leases at a faster rate than most.
Structural work has topped out for the eight-story life sciences center known as ALLY at 1229 W Concord Place. This 320,000 square-foot development by Sterling Bay is the first phase of the gargantuan Lincoln Yards master plan, which will ultimately span 55 acres along Chicago’s North Branch Corridor.
The Chicago City Council has approved the rezoning for two new high-rises in Fulton Market. The projects are located on opposite ends of the district, with the residential-based 1353 W Fulton Street anchoring the west end of the growing area and 360 N Green Street continuing the string of commercial mixed-use properties along Green Street on the eastern end of the neighborhood. Both towers recently received Plan Commission approval as well.
The Chicago Plan Commission has approved the mixed-use development at 360 N Green Street in Fulton Market. Replacing a vacant lot just east of the recently announced Guinness Brewhouse, the Sterling Bay-led project is being designed by Gensler and has gone through a series of revisions, most recently this past February. The approval is the second tower moving forward this month in the area with the residential-heavy 1353 W Fulton Street also getting the green light.
Permits were issued early last week for a renovation project located at 550 West Randolph Street in West Loop Gate. The existing building is a warehouse and is located at the corner of W Randolph Street and N Clinton Street. The developer for this project has been listed as W.P. Carey and the project itself was designed by Gensler. We previously reported on the project in late 2020.