Marc Realty plans another big hotel in Fulton Market

Developer wants to build 296-key property; would add to 250-key complex eyed nearby

Chicago /
Nov.November 23, 2020 02:53 PM
Marc Realty’s David Ruttenberg and 311 N. Sangamon Street in Fulton Market (Google Maps)

Marc Realty’s David Ruttenberg and 311 N. Sangamon Street in Fulton Market (Google Maps)

Developer Marc Realty Capital wants to build a 296-key hotel in Fulton Market. It would be the second hotel project the company is eyeing in the trendy neighborhood.

Marc Realty and investor Relu Stan have filed plans for the 14-story hotel at 311 North Sangamon Street, according to Block Club. The location is now Fulton Market Kitchen.

The plan incorporates a landmark building at 310 North Peoria Street — a warehouse built in 1893 for a meatpacking supplier — and calls for 6,000 square feet of retail and office space.

Last year, Marc Realty released plans for a 250-room Standard Hotel at 1234 West Randolph Street, less than a mile away. Other projects planned for Fulton Market include a 240-room Equinox Hotel from Related Midwest at 725 West Randolph Street, and North Park Ventures’ 476-key hotel at 800 West Lake Street. All the proposals will need to earn the support of local Alderman Walter Burnett Jr.

Covid-19 has decimated Chicago’s hotel industry — as it has across the U.S. — costing about 12,000 hospitality jobs in the city as of September, the Chicago Sun-Times reported recently. Once travel and tourism resume, labor organizers say the city should help workers get their jobs back. [Block Club] — Orion Jones


Related Articles

arrow_forward_ios
Magellan Development, led by CEO David Carlin, is cutting 300 hotel rooms from its planned mixed-use tower project in Lakeshore East. (Photos via Magellan)

Magellan slashes 300 hotel rooms from Lakeshore East tower project

Magellan slashes 300 hotel rooms from Lakeshore East tower project
Chicago’s Downtown office market hit new lows in Q4, with sublease availability pushing past 5.4 million square feet. (iStock)

Chicago’s Q4 office market report was grim tally

Chicago’s Q4 office market report was grim tally
The Vista Tower Chicago and Magellan CEO David Carlins (Magellan)

What’s in a name: Magellan says goodbye to Vista Tower, hello St. Regis Chicago

What’s in a name: Magellan says goodbye to Vista Tower, hello St. Regis Chicago
Thomas Roszak, at left, is co-founder of Moceri + Roszak. Michael Moceri, at right, is the son of Daniel Moceri, the other co-founder. All three are involved in the latest project.  (Sterling Bay)

Moceri + Roszak founders plan 383-unit Fulton Market tower

Moceri + Roszak founders plan 383-unit Fulton Market tower
Joe Mansueto and Waldorf Astoria Chicago at 11 E. Walton Street (Morningstar, Google Maps)

Waldorf Astoria Chicago going to Joe Mansueto at steep discount

Waldorf Astoria Chicago going to Joe Mansueto at steep discount
Hotels and shopping malls have skipped out on their Cook County tax payments

Struggling hotels, malls owe Cook County millions in back taxes

Struggling hotels, malls owe Cook County millions in back taxes
110 N Carpenter Street in Fulton Market (Photo via Sterling Bay)

Sterling Bay, JPMorgan near deal to sell McDonald’s HQ for $430M

Sterling Bay, JPMorgan near deal to sell McDonald’s HQ for $430M
300 North Elizabeth Street with John and Stephen Calk (Google Maps, Federal Savings Bank, Getty, iStock)

Federal Savings Bank is leaving Fulton Market but not Chicago

Federal Savings Bank is leaving Fulton Market but not Chicago
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...