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.