A Chicago developer who helped turn the city’s former meatpacking district into its hottest neighborhood is working with the development arm of a local construction firm to turn an old food processing plant in the Fulton Market area into a 40-story commercial building.
Shapack Partners and a venture of Clayco division CRG, aim to turn the building at 170 North Green Street into 275 apartments, office space and 150 hotel rooms, Crain’s reported citing a zoning application that will be submitted to the City Council this week.
The project would replace the 156,000-square-foot plant, which Bridgford Foods ran from 1975 until the company relocated its facility to a building in the Back of the Yards neighborhood in 2020.
Bridgford won city approval to build a 17-story, 314-unit apartment project in 2017 but never moved forward with the project. Instead, Bridgford sold it to Clayco for $60 million in 2020.
The City Council needs to sign off on a zoning change to allow the project. The tallest portion of the building will rise at the corner of Lake and Peoria streets, while the rest of the building would stand about 14 stories high. At least 14 units will be affordable housing units and about 350,000 square feet of the building will be used for office space.
The redeveloped building at 170 North Green Street, if approved, will join new developments including 182-room Hoxton Hotel and 115-room Nobu Hotel. On the block west of Bridgford, developer Related Midwest broke ground on a 43-story apartment building in November, which will be the tallest building in Fulton Market when completed in 2024. Shapack also is planning a 26-story, 316-unit building at 1353 West Fulton Street, who bought the building for $8.5 million in 2018.
[Crain’s] – Connie Kim