Summit Design + Build to start first development project

The general contractor is building a five-story office tower in Fulton Market


Chicago /
Sep.September 26, 2018 10:00 AM

Summit Design & Build president Adam Miller and the rendering for its office building

Summit Design + Build will launch its first foray into development with an office building in Fulton Market.

The Chicago-based general contractor was issued a building permit Monday to build a five-story office tower at 1038 West Fulton Market, next to its current headquarters and across the street from Google’s Midwest headquarters.

The building site is a parking lot owned by the construction firm. Instead of selling the lot to a developer, Summit President Adam Miller previously told Crain’s that the firm wanted to capitalize on Fulton Market’s popularity for itself.

Summit paid $2.9 million in 2006 for the lot and the three-story building on the corner of Carpenter and Fulton, which serves and its current headquarters. The company has plans to sell that building, move into the top floors of its new building and rent out the remaining space there.

Plans call for a five-story, 29,000-square-foot building with ground-floor retail space and 21 parking spaces, according to the city building permit.

Summit is following developers like Sterling Bay, McCaffery Interests and Shapack Partners and a host of other firms looking to cash in on the booming neighborhood.


Related Articles

arrow_forward_ios
From left: DL3 Realty’s Leon Walker, Discover’s Roger Hochschild, Mayor Lori Lightfoot, and 8560 South Cottage Grove Avenue. (DL3, Discover, Getty, Google Maps)
DL3 Realty signs Discover to big South Side lease
DL3 Realty signs Discover to big South Side lease
Blackstone’s Jonathan Gray and CenterPoint CIO Jim Clewlow with one of the properties, 225 Spring Lake Drive, Itasca (Getty, Linkedin, Google Maps)
Blackstone expands industrial reach with $151M Chicago buy
Blackstone expands industrial reach with $151M Chicago buy
(Arlington Park, Google Maps)
Churchill Downs looks to sell 326-acre Arlington Park race track
Churchill Downs looks to sell 326-acre Arlington Park race track
Chicago this week raised indoor dining to 40% of a venue's capacity. (iStock)
Filling up: Chicago boosts indoor dining capacity
Filling up: Chicago boosts indoor dining capacity
Photo illustration of the Silver Lake Country Club (Silver Lake CC, iStock/Illustration by Kevin Rebong for TRD)
Orland Park golf club hits market as residential redevelopment
Orland Park golf club hits market as residential redevelopment
Sterling Bay’s Andy Gloor (right), JPMorgan’s Jamie Dimon and 370 North Carpenter Avenue in Fulton Market, one of two properties the companies are selling. (Sterling Bay; Getty; Google Maps)
Sterling Bay and JPMorgan test appetite for redevelopment
Sterling Bay and JPMorgan test appetite for redevelopment
Sterling Bay CEO Andy Gloor and Prudential Plaza (Getty)
Sterling Bay sues Tribune over $5M in skipped rent
Sterling Bay sues Tribune over $5M in skipped rent
Berkadia CEO Justin Wheeler with Moran & Co.'s Tom Moran (Getty)
Berkadia picks up longtime multifamily brokerage
Berkadia picks up longtime multifamily brokerage
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...