The Real Deal Chicago

Sterling Bay buys another Fulton Market property; adds to growing collection

Pioneer Wholesale Meat lot is next to Google Midwest HQ, another Sterling Bay project
September 19, 2018 05:00PM

Sterling Bay’s Andy Gloor and the property

Sterling Bay picked up another property in Fulton Market, adding to its extensive holdings in the booming neighborhood.

The Chicago developer has a contract to buy the Pioneer Wholesale Meat property at 1000 West Carroll Avenue for around $20 million, according to Crain’s.

The property is immediately north of Google’s Midwest headquarters, which Sterling Bay developed after buying the Fulton Market Cold Storage building at 1000 West Fulton Street in 2012. The project helped turbocharge the wave of redevelopment in the area.

Google’s HQ houses 900 employees and recently added 14,000 square feet on the ground floor. The company is in talks to lease an additional 100,000 square feet at another nearby Sterling Bay project at 210 North Carpenter Street.

The new Sterling Bay site won’t be the only construction around Google: Developer Mark Goodman plans a 12-story, 268,000-square-foot office building just east at 310 North Sangamon Street, while construction firm Summit Design+Build is putting up a five-story office building at 1040 West Fulton Street.

Sterling Bay, meanwhile, has another project in the works across the street from Google at 345 North Morgan Street, where it aims to build a movie theater.

Three blocks away, Sterling Bay just bought 2.2 acres at 1300 West Carroll from Archer Daniels Midland, where its plans could include a new Metra commuter rail station for the neighborhood. [Crain’s] — John O’Brien