Massive mixed-use complex planned for Fulton Market

Massive mixed-use complex planned for Fulton Market

In November 2017, a joint venture between IBT Group and hedge fund investor Andrew Bluhm's LAMB Properties unveiled plans for a transformative development on the 1200 block of West Fulton Street in Chicago's Fulton Market district. The proposed 1.2 million-square-foot mixed-use complex aimed to include approximately 900,000 square feet of office space, a 60-room boutique hotel, 500 feet of retail frontage, and 700 parking spaces. Designed by S9 Architecture, the project was envisioned as a significant addition to the rapidly evolving West Loop neighborhood, which was experiencing a surge in corporate relocations and urban revitalization.

The developers also considered the site as a potential anchor for Chicago's bid to attract Amazon's second headquarters, envisioning the area as part of a broader "urban campus" that could accommodate the tech giant's expansive needs. Despite the ambitious plans, the project faced challenges, including the need for community support and zoning approvals from city officials. Ultimately, the development did not proceed as initially proposed. By 2019, IBT Group had partnered with Ryan Companies to propose a scaled-back version of the plan, which also did not come to fruition. In 2021, the site was sold to Shapack Partners, marking a shift in the project's trajectory. The original vision for the 1200 West Fulton development remains a testament to the dynamic and competitive nature of Chicago's real estate landscape.

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