Demolition permits were issued last month clearing the way for a 21-story hotel at 800 W Lake Street, located near the heart of the booming Fulton Market neighborhood. The new structure will rise to 265 feet at its roof, replacing three low-rise masonry buildings and parking lot space. Planned by North Park Ventures, the yet-to-be-named hotel will provide space for 476 rooms, as well as ground-floor commercial space.