Marquette plans 512 residential units on edge of Fulton Market

The Naperville developer’s three-building complex joins other new projects on edge of trendy neighborhood
June 13, 2019 09:00AM

Marquette Companies CEO Nick Ryan and an aerial view of 1400 West Randolph Street (Credit: Marquette Companies and Google Maps)

Marquette Companies CEO Nick Ryan and an aerial view of 1400 West Randolph Street (Credit: Marquette Companies and Google Maps)

Marquette Companies is planning three residential buildings on the western end of Fulton Market, joining a flurry of development and investment activity on the edge of the trendy neighborhood.

The largest will be a 21-story, 252-unit building at 1400 West Randolph Street, according to Crain’s. The two shorter buildings will total 260 residential units and be located at at 1436-50 West Randolph Street, according to the report.

The complex would join a 14-story, 263-unit luxury apartment building Marquette just completed a block east at 180 North Ada Street.

Marquette’s newest project would straddle Ogden Avenue, the western boundary of Fulton Market. But the city is mulling a zoning change that would push that boundary a few blocks west to Ashland Avenue and open up more land to the kind of explosive development that’s transformed the neighborhood to the east.

Last Month, Dallas-based Trammell Crow secured a $92 million construction loan for a 14-story spec office building nearby at 1375 West Fulton Street. The firm originally planned an 18-story apartment complex on the site but changed plans after analyzing the market in the area.

Firms like Fulton Market pioneers Shapack Partners and Sterling Bay have also acquired multiple nearby properties in recent months[Crain’s] — John O’Brien