Sulo’s Fulton Market Penthouse Prices to Top $7.6M

Fulton Market’s condo market is about to test a new ceiling.

Two penthouses at Fulton Bond, a 149-unit development by Sulo Development at 1325 West Fulton Street, will each be priced above $7.6 million — the current record west of the Kennedy Expressway — set by Sulo’s Embry West Loop, according to the project’s sales team, who spoke to Crain’s.

“These two will definitely surpass that,” said Tim Sheahan of Compass, who is co-leading sales with colleague Mark Icuss. A sales center opens on Monday, though full pricing for the building has not yet been released.

If the units fetch near their asking prices, they will further cement Fulton Market and the broader West Loop as legitimate rivals to the Gold Coast and other lakefront enclaves that have historically dominated Chicago’s ultra-luxury condo market, according to the publication.

In the past five years, 18 Chicago condos have sold for $7 million or more. Seventeen of those were east of Clark Street, most within blocks of Lake Michigan. The lone outlier west of the Kennedy was Chicago-based Sulo’s Embry penthouse at $7.6 million. Fulton Bond aims to add at least two more to that short list.

Sulo has been steadily pushing prices higher in the neighborhood. In 2017, the firm’s Hayden West Loop at 1109 West Washington Street topped out at $4 million. Its follow-up, Embry at 19 North May Street, doubled in scale from its original plan and ultimately built 73 units across 18 stories, including the record-setting penthouse.

Fulton Bond marks another leap. The project will feature two buildings — one 23 stories with 60 condos, and a 33-story tower with 89 units. Sulo tapped Kohn Pedersen Fox to design the pair, blending brick arches at the base — a nod to Fulton Market’s warehouse roots — with sleeker glass forms above.

The New York-based firm is known locally for the buildings at 333 West Wacker Drive and 311 South Wacker Drive, signaling Sulo’s ambition to deliver a skyline-caliber statement west of Downtown Chicago.

Interiors by London-based MAWD | March and White Design will have arches, oversized wood panels and dramatic lighting. Plans call for roughly 40,000 square feet of amenities, including a sundeck with heated outdoor pool, yoga and meditation rooms, sauna, golf simulator and children’s play areas.

Units will range from two to five bedrooms. The taller tower will have two penthouses; the shorter will have one penthouse, though the sales team declined to say which will command the highest price.

Sulo acquired the 1.7-acre site at Fulton and Elizabeth streets in October 2024 for $29.9 million. An earlier concept envisioned three towers and 243 units. For now, two are moving forward, with a potential third phase later.

— Eric Weilbacher