LG Development is going all in on Fulton Market, adding a big apartment and office complex to the ever-growing list of projects in and around the neighborhood.
The Chicago developer will formally unveil plans next week for an 11-story office building along with 479 rental units in two buildings in the 1100 block of Lake Street, according to Crain’s.
LG has a deal to buy the two properties at 1143 and 1150 West Lake Street needed for the complex from sausage-maker ATK Foods for $30 million, contingent on winning city approval for the project. It joins many new proposed projects in the area, like FitzGerald Associates Architects and F&F Realty’s planned 20-story, 200-key hotel project at 920 West Lake Street.
The firm is seeking approval for the project just weeks after it said it plans to develop a 21-story office building and a 17-story hotel and renovate a historic manufacturing building on a stretch of land along Aberdeen Street between Fulton Street and Lake.
LG has worked on a number of commercial rehab and redevelopment projects in Fulton Market, and it plans a 166-unit rental complex just south of the neighborhood on the Near West Side. It also is building a 109-unit rental project next to the 606 trail in Bucktown, a development it recently took over from GW Properties.
SVN Chicago Commercial’s Scott Maesel is representing ATK in the Fulton Market sale. [Crain’s] — John O’Brien