The Real Deal Chicago

Trammell Crow moves on Fulton Market with 14-story office building

The project, which was issued a building permit, will add 315K sf to West Loop’s booming office market
January 04, 2019 10:00AM

A rendering of 1375 West Fulton Market and Trammell Crow CEO Matt Khourie (Credit: Neighbors of West Loop and Trammell Crow)

Trammell Crow will begin work on a 14-story office building in the West Loop, putting it on pace to add another 315,000 square feet into the area’s exploding office market.

The Dallas-based developer was issued a building permit for construction at 1375 West Fulton Market, according to Curbed. The project will include 15,000 square feet of ground-floor commercial space, some of which will be leased below market rate at the urging of Alderman Walter Burnett, Jr., (27th) according to the report. The project is expected to be completed in 2020.

The project is planned on the site of a parking lot and two-story building, which Trammell Crow demolished last year.

The developer had originally pitched an 18-story apartment building at the site, but it changed course last year. It paid $20 million to buy the property from Economy Packing Company in October.

The site is adjacent to the 27,000-square-foot lot at 224 North Ada Street, which Shapack Partners bought in September for $8.5 million with ambitions to build office or retail space.

Both developments, along with Sterling Bay’s $25 million acquisition of 2.2 acres around 1300 West Carroll Avenue, are expected to prime investor interest along the relatively quiet western edge of Fulton Market. [Curbed] — Alex Nitkin