Sulo Development wants to bring more than 200 condominiums to the heart of Chicago’s Fulton Market District.
The Chicago-based development firm is proposing to purchase a vacant lot at 1325 West Fulton Street from Andy Gloor’s Sterling Bay, with plans to construct a three-tower condo complex with 243 units and ground-floor retail, Crain’s reported.
If approved, the complex would be the largest condominium development ever proposed for Fulton Market, a neighborhood known more for its rental apartments than for-sale residences.
The tallest tower, at 538 feet, will feature 106 units and be located at the southeast corner of Fulton and Ada streets. A 438-foot tower with 83 units will rise on the eastern portion of the site, while a mid-block, 301-foot tower will house 54 units.
Sulo’s acquisition of the property, previously slated for an office project by Sterling Bay, reflects the developer’s confidence in the district’s long-term appeal. The vacant land has remained unused since Sterling Bay purchased it in 2017 as part of a broader portfolio of Fulton Market properties.
Sulo has already made a name for itself with projects like the Hayden West Loop, a 28-unit condo building that pre-sold most of its units before it was even completed in 2019.
More recently, Sulo’s Embry condo building, also in the West Loop, sold 80 percent of its 58 units before its opening earlier this year. The firm is confident that the demand for luxury condos will extend into Fulton Market.
Sterling Bay has sold off several development sites in Fulton Market recently, including 1200 West Carroll Avenue, a 33,700-square-foot parcel at 370 North Carpenter Street and a 48,000-square-foot site at 345 North Aberdeen Street.
The City Council’s approval is required for the project.
— Andrew Terrell
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