LG adds Fulton Market office, resi complex to growing list of projects
The Chicago developer wants to build two buildings in the 1100 block of West Lake Street with offices and 479 rental units
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