Mark Goodman & Associates wants to develop a 12-story office building in the Fulton Market district, near the new corporate offices of McDonald’s and Google.
Goodman, which will present plans Monday night, would lease out space in the planned 268,000 square-foot building, the Chicago Tribune reported Monday. Cushman & Wakefield will be the broker.
The Chicago-based real estate investment firm still needs a zoning change for the construction. If it is granted on the property, now a vacant lot, work can begin as early as this fall. Principal Mark Goodman said he courting equity investors and is prepared to start building on speculation if no tenants sign leases by then.
The planned $115 million building is being designed by architecture firm SCB.
Commercial developers have moved aggressively in the West Loop commercial district this year. The Indonesian government was the most recent operator to jump in, buying a 20,000 square-foot art gallery space last week at 211-217 North Carpenter Street.
Thor Equities also has been a major booster of the area, most recently taking out $50 million in loans on a handful of local properties on the heels of its $12 million acquisition of the Isaacson & Stein Fish buildings at 800-810 West Fulton Street this year.
They join numerous other developers building portfolios in Fulton Market, including Sterling Bay and Shapack Partners. [Chicago Tribune] — Alex Nitkin