Ex-TV studio head who brought down union boss pays $11M for Fulton Market building

Alex Pissios is starting a new venture with an office in the center of the city’s hottest neighborhood

Chicago /
Apr.April 28, 2022 03:31 PM
Alex Pissios with 232 North Carpenter Street (Twitter, Google Maps)

Alex Pissios with 232 North Carpenter Street (Twitter, Google Maps)

The former owner of a Chicago television studio whose legal maneuvering resembles the plot of a Dick Wolf crime show produced on his watch paid $11 million for an office building in Fulton Market.

Alex Pissios, whose Cinespace Chicago Film Studios sold last year for more than $1 billion, plans to use the 10,000-square-foot building at 232 North Carpenter Street for a new venture focused on charity and other investments, Crain’s reported. The building is sandwiched between Google’s two offices in the only city neighborhood where leasing stayed strong throughout the pandemic.

“My long-term vision is to build a family office and hire some smart people to help me manage it,” he told Crain’s. “I really love the Fulton Market area. I’m excited about being in that neighborhood.”

Pissios was thrust into the spotlight for his role as a mole for federal prosecutors in a case against a Teamsters union boss, John T. Coli Sr., who pleaded guilty to extortion in 2019. Facing a charge of bankruptcy fraud, he didn’t have much choice, the Sun-Times reported last year. He and his wife sought protection from creditors after leading a condo development near the United Center before the Great Recession erased demand.

He said he doesn’t plan to knock down the building despite strong redevelopment prospects for the property.

The seller was Hartshorne Plunkard Architecture, the latest longtime Fulton Market property owner to cash in on the neighborhood since Google and McDonalds located big corporate offices there in the last six years.

[Crain’s] – Sam Lounsberry





    Related Articles

    arrow_forward_ios
    Bears George McCaskey with Soldier Field
    Minor league baseball complex aired for new Chicago Bears stadium
    Minor league baseball complex aired for new Chicago Bears stadium
    Developer Mike Reschke and the James R. Thompson Center at 100 West Randolph Street (ajay_suresh, CC BY 2.0/via Wikimedia Commons)
    Google hunts for Chicago offices as Reschke denies Thompson Center sale
    Google hunts for Chicago offices as Reschke denies Thompson Center sale
    Fritz Kaegi (iStock)
    Chicago Assessor Kaegi wins primary, fending off trade union challenge
    Chicago Assessor Kaegi wins primary, fending off trade union challenge
    The John Buck Company's chairman and CEO John A. Buck II in front of a rendering of the planned two-tower office building project at 655 West Madison Street (The John Buck Company, Juan Gabriel Moreno Architects, iStock)
    John Buck shifts to two-tower plan for West Loop project
    John Buck shifts to two-tower plan for West Loop project
    Belgravia Group's chairman Alan D. Lev and 1319 East Golf Road in Schaumburg (Belgravia Group, Google Maps, iStock)
    Belgravia cashes out of Chicago PGA store with $19M pandemic flip
    Belgravia cashes out of Chicago PGA store with $19M pandemic flip
    311 W Walton Street (LoopNet)
    River North office building triples in value since 2014
    River North office building triples in value since 2014
    Citadel's Ken Griffin (Citadel, iStock)
    Miami nabs another big name as Citadel’s Griffin shifts HQ
    Miami nabs another big name as Citadel’s Griffin shifts HQ
    Jeff Shapack with 506 N Des Plaines Street (LinkedIn, Google Maps)
    Shapack proposes apartments, hotel near Chicago casino site
    Shapack proposes apartments, hotel near Chicago casino site
    arrow_forward_ios

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

    Loading...