Shapack continues empire-building in Fulton Market

Developer paid AT&T $11.3 million for 1152 West Carroll

Aug.August 22, 2019 01:00 PM
Shapack Partners’ Jeff Shapack and 1152 West Carroll Avenue (Credit: Google Maps)

Shapack Partners’ Jeff Shapack and 1152 West Carroll Avenue (Credit: Google Maps)

One of the early pioneers of Fulton Market just picked up another property in the West Loop, and this parcel is just a few blocks from Google’s Chicago headquarters.

Jeff Shapack paid $11.3 million for a West Loop property at 1152 W. Carroll Ave., Crain’s reported. The newly-acquired property, sold by AT&T, is a 37,000-square-foot building on a 42,500-square-foot lot, according to marketing materials by JLL.

Shapack Partners helped kick off the Fulton Market redevelopment craze with the Soho House development.

It is unclear if this will be the site of a new office building, but developers have trended towards redeveloping low-rise Fulton Market industrial buildings into corporate skyscrapers. The property’s neighbors include offices for Google, Mondelez, and WPP Group, and developer Sterling Bay is planning 18- and 11-story office buildings nearby, Crain’s reported.

Shapack owns a number of properties in the Fulton Market neighborhood, including its seminal office building at 811 W. Fulton Market (currently on the market for $49M), the 182-room Hoxton Hotel at 200 North Green St., an office building at 167 North Green Street, and warehouses at 224 North Ada Street and 400 North Noble Street, TRD previously reported.

Current tenants of Shapack properties include Lyft, the Wing, Wintrust Financial, furniture company Knoll, and Black Edge capital. [Crain’s] — Sarah Paynter

Related Articles


Lightfoot convenes taskforce on affordable housing, largest co-living space to be developed in the Loop : Daily digest

Keating Crown, James Crown and 1040 West Randolph Street (Credit: Newmark Knight Frank)

It stays in the family: Sterling Bay sells Fulton Market building to Crowns for $33M

Homes with airplane hangars are coming to suburbs, Wicker Park neighbors spar with developer over church redevelopment: Daily digest

City to redevelop land near 95th Red Line Station, Chicago’s slumping housing market gets slight reprieve: Daily digest

IBT Group’s Gary Pachucki and renderings of Humboldt Lit (Credit: LinkedIn and IBT)

The New Fulton Market? Local developer puts $50M bet on Humboldt Park

Tucker Development CEO Richard Tucker and 954 West Washington Boulevard (Credit: Tucker Development, Lindon Associates)

Tucker Development is latest company to move to Fulton Market

Tribune Tower redevelopment pricing revealed, two hotels planned for Elk Grove: Daily digest

Base Capital Group and Hartshorne Plunkard Architecture’s plans for a 12-story hotel at 1043 West Fulton Market

The Hotel Hunger Games: Why some of Fulton Market’s projects may not survive