Office N Illinois

Ryan Companies, IBT Group to develop office/retail project in Fulton Market

Ryan Companies, IBT Group to develop officeretail project in Fulton Market,ph1

Ryan Companies and development partner IBT Group plan to develop a 700,000-square-foot, mixed-use project at 1200 West Fulton Market in the Fulton Market District of Chicago. The project, dubbed Axis West at Fulton Market, will bring more office and retail space to the dynamic community that continues to flourish and expand.

“Our entry into Fulton Market continues our successful growth in the City of Chicago,” said Toby Veit, vice president of development, Ryan Companies. “Axis West will serve as a resource for businesses and consumers, as well as for the neighborhood at large. We are very proud to be able to contribute to the continued growth of this vital part of the city.”

Axis West will be comprised of over 600,000 square feet of first-class office space with floor plates ranging from 10,000 to 40,000 square feet. The project will also include ground floor retail, over 300 indoor parking spaces, a 13,000-square-foot plaza and best-in-class amenities including a flagship fitness center and multiple outdoor terraces. Office users will benefit from numerous activated tenant workspaces including a tenant lounge and indoor/outdoor Wi-Fi-enabled terraces.

Minneapolis-based Ryan Companies and IBT Group, based in Chicago, are co-developing the project; Ryan Companies will be the general contractor; CallisonRTKL is the architect and Newmark Knight Frank has been named the leasing brokerage partner. Groundbreaking on the project in scheduled for early fall, 2020.

“As we work through this process with the community and planning department, we anticipate the project will evolve,” said Gary Pachucki, founder and president of IBT Group. We are excited to continue our work with the city as we refine the design concept and work to seek their approval.”

The Axis West name was derived from the project’s location on the axis of two main Chicago thoroughfare, Fulton and Racine. The location allows tenants to be close to the city and the energy in Fulton Market, but with convenient access to transportation options including the expressways, Morgan “L” Station, Union Station and Ogilvie Station, as well as the proposed Ogden Metra station.