Monday, September 16, 2019

Work begins on 13-story Fulton Market office project near Google HQ

Photo from SCB
By: Jay Koziarz | 9/13/19 | Chicago.Curbed.com

In Chicago’s hot Fulton Market Distirct, work is ready to begin on a 13-story office development replacing the former AmeriGas propane facility located just east of the Ace Hotel. It recently received its first construction permit, according to Chicago Cityscape. Backed by local developer Mark Goodman & Associates and New York-based partner Tishman Speyer, the Solomon Cordwell Buenz-designed building calls for 268,000 square feet of office space, 7,800 square feet of ground-floor retail, garage parking for 47 cars, and tenant amenities such as a fitness center, a bike room, and outdoor terrace. Read More...

Wednesday, September 11, 2019

Industrial corridor near Fulton Market opening up to new development

Map from Crain's Chicago Business
By: A.D. Quig | 9/10/19 | Crain's Chicago Business

Despite some complaints from neighbors about turning the area into "another Wicker Park," and others that the measure didn’t open the area up enough, aldermen gave initial approval to changes to the Kinzie Industrial Corridor that will allow new businesses in the corridor’s eastern edge west of the booming Fulton Market. As corporate headquarters, retailers, and restaurants have filled Fulton Market—a former meatpacking and food processing hub—the city is poised to somewhat extend the boom to allow new commercial uses in about four blocks of the corridor between Ashland and Ogden Avenues, and a northern sliver that extends to Damen. Read More....

Thursday, September 5, 2019

MBRE, Hilco, Origin joint venture acquires West Loop property

Photo from REJournals.com
By: Staff Writer | 9/5/19 | REJournals.com

A joint venture that includes senior executives Kevin Purcell and Peter Westmeyer from MB Real Estate (MBRE), Hilco Redevelopment Partners and Origin Investments has acquired 549 W. Randolph Street in the West Loop. MBRE will provide leasing and asset management services for the seven-story, 123,835-square-foot property. “549 West Randolph has it all: proximity to transportation, neighborhood dining and entertainment and Fulton Market as well as the cool loft architecture that tenants are seeking,” said Purcell, MBRE president of asset management and leasing services. “We intend to enhance the tenant experience by creating a building culture that rivals any building in Chicago, making 549 West Randolph the model for others to follow.” Read More....

Tuesday, September 3, 2019

Kristin Cavallari is ‘coming home’ to open Uncommon James store in West Loop

Photo by Jeff Schear / Getty Images
By: Randi Stevenson | 8/30/19 | ChicagoTribune.com

Chicago may not have felt like home, but that isn’t stopping Kristin Cavallari from bringing her brand to the Windy City. In an Instagram post Friday, the reality TV star, jewelry designer and wife of former Bears quarterback Jay Cutler announced she will open a bricks-and-mortar Uncommon James store in the West Loop. With current locations in Los Angeles and Nashville, where the couple live, the brand includes jewelry and some apparel. No word on whether the Chicago location will sell items from sister brands Uncommon James Home and Little James (children’s clothing). The building appears to be 847 W. Randolph Street., the former home of Jaipur restaurant. Read More....

Tuesday, August 27, 2019

West Loop loft office buildings sell for $65 million

Photo from CoStar Group
By: Danny Ecker | 8/27/19 | Crain's Chicago Business

One of Chicago's biggest real estate investment firms is betting that the popularity of loft office buildings downtown isn't going away any time soon. A venture of Chicago-based Heitman paid about $65 million last week for a trio of vintage office properties in the West Loop, according to the sellers and sources familiar with the transaction. The Heitman affiliate bought the buildings at 901 W. Jackson Blvd., 641 W. Lake St. and 130 S. Jefferson St. from a joint venture of Chicago real estate firms R2 and Walton Street Capital. R2 and Walton Street picked up the properties as part of an $86 million deal in 2016 that included three other Chicago loft office buildings and three downtown development sites nearby. Read More....

Thursday, August 22, 2019

Fulton Market builder drops $11 million on another development site

Photo by CoStar Group
By: Alby Gallun | 8/21/19 | Crain's Chicago Business

Jeff Shapack, one of the busiest developers in the Fulton Market District, has pounced on another property in the trendy West Loop neighborhood, a possible site for a new office building. A Shapack venture has paid $11.3 million for a parcel at 1152 W. Carroll Ave., three blocks west of Google’s Midwest headquarters, according to real estate data provider CoStar Group. Shapack, founder and CEO of Shapack Partners, declined to comment, so it’s not clear what he plans to build there. Fulton Market has been a mother lode for developers like Shapack, who have been buying up low-rise industrial buildings there over the past several years and replacing them with fancy office, apartment and hotel projects. Read More....

Tuesday, August 20, 2019

Apartment Towers With More Than 500 Units And New Brewpub Planned For Former Belly Q Spot In West Loop

Photo from Google Maps
By: Mauricio Pena | 8/20/19 | BlockClubChicago.org

A Naperville-based developer aiming to build 512 apartments across three new buildings on the west end of the West Loop will present plans to neighbors Wednesday. Marquette Companies wants to build three buildings that are 21 stories, eight stories and six stories along the 1400 block of West Randolph Street. The developer will show off the plans at 6 p.m. Wednesday on the third floor of Catalyst Ranch, 656 W. Randolph St. Read More....