It's been just about a year since developer Sterling Bay purchased an old industrial building at 311 N. Morgan St. in the Fulton Market District, and now the company has finally found a tenant for the property - Portland based Ace Hotel. The upcoming Ace will be located literally right across the street from the old Fulton Market Cold Storage building, which Sterling Bay is also developing. The Fulton Market Cold Storage facility, now called 1K Fulton will become the future home of hundreds of Google employees, as well as the new global headquarters of Chicago-based SRAM Corporation. In addition to all of the office workers coming to the greater West Loop area, the neighborhood is booming with new restaurants and hotels. This year, another hot hotel property, Soho House opened in the area, and Nobu Hospitality Group unveiled a proposal to build a 12 story hotel and restaurant on a vacant lot at Randolph and Peoria. No word just yet on any formal numbers or timelines for the new Ace Hotel, however, the location and timing could not be any more perfect for either Ace or Sterling Bay.
·Ace Hotel bets on Fulton Market district [Crain's]
·Previous Fulton Market coverage [Curbed Chicago]
·Previous West Loop coverage [Curbed Chicago]