Sterling Bay and Wheelock Street Capital Sell Hyatt House-Fulton Market

Sterling Bay and Wheelock Street Capital have announced the sale of Hyatt House-Fulton Market to Ohio-based Rockbridge Capital. Located at 105 N. May in the Fulton Market neighborhood, the 200-key, extended-stay hotel includes 5,224 square-feet of retail space on the ground floor, which is now fully leased to popular breakfast restaurant The Original Pancake House.

“Hyatt House was an exciting and important development for Fulton Market, and we are pleased to see the property fully leased before the sale,” said Andy Gloor, CEO of Sterling Bay. “Our ability, in close partnership with Wheelock, to successfully take such a project from construction to financing, leasing and sale is a testament to our team’s incredible track record in commercial property development.” 

This sale is the latest activity in a series of Fulton Market listings for the firm, which has identified the properties as opportunities to further their vision for development in Chicago. 

The Original Pancake House will operate its sixth Chicagoland location—and first in Fulton Market—in the ground floor retail space at Hyatt House, bringing an accessible, family-friendly breakfast option to Fulton Market’s bustling dining scene. The restaurant plans to open in late spring or early summer 2025. 

Since Sterling Bay and Wheelock delivered Hyatt House in 2019, the 200-key property has been the only extended-stay and Hyatt-branded hotel in the neighborhood. Designed by Eckenhoff Saunders Architects, the hotel has welcomed thousands of guests looking to take advantage of Fulton Market’s range of business, dining and entertainment offerings. Hyatt House builds on the neighborhood’s live-work-play environment with its own amenities, including an indoor rooftop pool, sky deck with expansive city views, fitness center, and full-service lobby bar.