Developer Fulton Street Cos. has secured $233 million in construction financing for their new office development at 919 W. Fulton. Planned for a rectangular site along N. Sangamon St spanning from W. Fulton St to W. Lake St, the project scope also includes an existing warehouse building at 900 W Lake Street.
As a rare accomplishment amidst waning demand for office space, the 400,000 square foot building is set to become home to the headquarters of Harrison Street Real Estate Capital, who will occupy 112,000 square feet of space in the 11-story building. On the ground floor, Gibsons Restaurant Group will occupy 15,500 square feet of the planned retail space.
Designed by Morris Adjmi Architects and FitzGerald, the 11-story building was originally planned to connect to the residential building at 910 W. Lake and convert it into more office space. The revised scope of the project will leave the existing building as apartments due to the stronger demand for apartments.
According to a report from CoStar, the debt is a combined $233 million from Bank OZK and Manulife Investment Management. The developers have cited a 2025 target for completion of the building, with Skender serving as the general contractor.