CRE N Illinois

Mixed-use project planned as gateway to Fulton Market breaks ground in Chicago

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Global real estate leaders and joint venture partners Thor Equities and QuadReal, together with leading real estate services firm, Cushman & Wakefield, and global design firm Skidmore, Owings & Merrill (SOM), introduced the city to 800 W Fulton on Tuesday, with an official groundbreaking ceremony. The project was dedicated by Chicago Alderman Walter Burnett, Jr., (27th) along with executive leadership from the groups involved in the project.

Located at the eastern entrance to the historic Fulton Market district at 800 W. Fulton Market, the soon-to-be 19-story, mixed-use building is designed to enrich its setting with a lively program of public and commercial spaces. The trophy property is expected to activate the burgeoning neighborhood with more than 450,000 square feet of office space, public amenities, retail and food and beverage outlets. Occupying a full city block, bounded by Green, Fulton Market, Wayman and Halsted Streets, the project is carefully proportioned to respect and relate to the rhythm, scale and streetscape of the vibrant Chicago West Loop neighborhood. Designed to meet the highest sustainability standards, the project is targeting both LEED Platinum and the WELL Building Standard certification. 800 W Fulton is slated to open in spring of 2021.

“We are thrilled to begin construction on 800 W Fulton, one of the most highly anticipated new developments in Fulton Market,” said Thor Equities chief operating officer Melissa Gliatta. “Perfectly fusing together Fulton Market’s past and present, the project places an emphasis on sustainability and features a distinctive look that is representative of the district’s historic past. Together with our partner Quadreal, SOM, Cushman & Wakefield and all of the parties involved, we are proud to see this project come to life and look forward to what the future holds for Fulton Market.”

This mixed-use building is defined by a varied façade that cascades down to match the existing street level. The stepped terraces allow the tower to gracefully address the scale of Fulton Market Street, maintaining a consistent eye line and achieving a slender tower profile.

“Our goal with this design is to truly create a gateway into the historic Fulton Market District, with a space that would integrate seamlessly and uniquely into the fabric of this burgeoning neighborhood,” said Brian Lee, consulting design partner with SOM. “Each of the setbacks offers generous outdoor terraces for the office tenants, providing a range of outdoor amenities and plantings. Along Fulton Market Street, the podium contains protected balconies that overlook the neighborhood, enforcing the neighborhood aesthetic.”

“Our research-based approach and experience draws us to the dynamic Fulton Market area,” said Jonathan Dubois-Phillips, president, international real estate at QuadReal. “A diverse group of companies are adopting Fulton Market as their new home, enhancing its growth and reinforcing why this location offers it all to tenants: a diverse community in which to work, live and play.”

“Even before breaking ground, we’ve seen tremendous interest from a diverse array of potential tenants, both locally and nationally, looking to be a part of this soon-to-be iconic address located at Fulton Market’s gateway,” said Jack McKinney, Jr., managing director, Cushman & Wakefield, who is handling office leasing for the property. “Fulton Market has become Chicago’s new center for brand reinvention and 800 W Fulton will be the neighborhood’s most architecturally distinctive building, establishing a new standard for the next generation office experience through a highly thoughtful integration of smart building technology, amenities, sustainable construction, green space and world-class views.”

Fulton Market was recently designated one of the top 20 “Cool Streets in North America” by Cushman & Wakefield, to go along with Time Out Magazine naming it number 18 on its 2018 list of the “Coolest Neighborhoods in the World” and Forbes including the submarket on its list of the “12 Coolest Neighborhoods in the World” the same year.