Shapack, Focus acquire more land for Fulton Market office project

The developers paid $21M for 2 properties near Lake and Halsted

TRD CHICAGO /
Apr.April 23, 2018 10:40 AM

The Shapack Development project near Lake and Halsted streets

UPDATED, 1:40 p.m., April 23: Shapack Partners and Focus Development acquired two properties in the booming Fulton Market district that are part of a larger office project near Lake and Halsted streets.

The Chicago-based developers paid $15 million in February for a vacant lot at 165 North Green Street, Shapack CEO Jeff Shapack said. The seller was the estate of Sue Ling Gin and CBRE was the broker, according to data from Real Capital Analytics. In March, Shapack and Focus paid $6 million for a small warehouse next door at 167 North Green Street, Shapack said.

The seller was Bridgford Foods, which has proposed its own 17-story mixed-use building across the street on the site of its current headquarters at 170 North Green. Chicago-based Walton Street Capital is part of a joint venture with Shapack and Focus Development that owns nearby property at 176 North Halsted Street.

Shapack and Focus, which is run by Tim Anderson, is planning a massive mixed-use project that would span the area between Halsted and Green and will connect the two streets with an open-air corridor on the ground floor called “the mews.”

Correction: This story has been corrected to reflect that Shapack Partners and Focus Development were the buyers of the two properties.


Related Articles

arrow_forward_ios
Thor Equities CEO Joe Sitt and a rendering of 800 West Fulton Market (Credit: SOM)

Thor Equities lands $144M construction loan for new tower

Flexport CEO Ryan Petersen and 333 N. Green Street (Credit: Getty Images, Sterling Bay)

Sterling Bay inks tech firm to latest lease at Fulton Market HQ

From left: 932 West Randolph Street, 1020 West Lake Street and 1020 West Randolph Street (Credit: Google Maps)

Still hungry: L3 Capital adds to Fulton Market buying binge

The planned Standard Hotel at 1234 W. Randolph and Marquette Companies’ planned apartment building at 1440 W. Randolph St. in the Fulton Market District

Despite approvals, Fulton Market projects under fire

Corey Crawford and Hayden West Loop at 1109 West Washington Boulevard (Credit: Getty Images)

Corey Crawford ID’d as buyer of $4M Hayden West Loop condo

625 West Adams Street and CA Office's Tom Scott and White Oak Realty Partners  Christopher Lynch

Developers of West Loop office tower built on spec score $140M loan

Sterling Bay’s Andy Gloor and renderings of 333 North Green Street (Credit: Sterling Bay)

Sterling Bay’s new Fulton Market HQ is a Sterling Bay construction

Google CEO Sundar Pichai and Sterling Bay CEO Andy Gloor (Credit: Getty Images and Lou Stejskal via Flickr)

Big foot: Google takes another 800K sf at Fulton Market

arrow_forward_ios