Fulton Street Cos. plans massive Fulton Market development

A massive, $600 million development proposal has been revealed by Chicago-based Fulton Street Cos. Planned for a large site at 1200 W. Fulton St, the 2-acre property at the northwest corner of W. Fulton St and N. Racine Ave was recently bought by the developer for $42 million. 

The massive 1.5-million-square-foot plan calls for office and lab space, apartments, a hotel and a big fitness center in the bustling Fulton Market District. As their largest project to date, Fulton Street Cos. is teaming up with Harrison Street Real Estate Capital, Waterton, and Shanna Khan to finance and manage the project. 

With a design led by Hartshorne Plunkard Architecture, the development will deliver 500 apartments and 200 hotel rooms in the roughly 50-story tower, expected to rise approximately 600 feet. A second building of 25 floors will encompass 500,000 square feet of office space. The final structure will contain 200,000 square feet of life sciences office and lab space across 10 floors. The developers also plan for a fitness center spanning 200,000 square feet, but where that space will be located is unclear. Morris Adjmi Architects will be consulting on the project’s design.

As a new proposal, the project will go through multiple steps before construction could begin. With the hurdle of site acquisition completed, the developers will now look towards city approvals. According to a recent Crain’s report, the developers plan to present to the Committee on Design in February. After city review, the plan will need approval for a zoning change and Planned Development and will need to secure construction financing. An official timeline for the project has not been determined.