With Google’s offices established at 1K Fulton and companies like Glassdoor and McDonald’s on the way, the West Loop’s red hot Fulton Market is in the midst of a modern day gold rush when it comes to commercial real estate. Keen to get in on the action, McCaffery Interests—developer of Chicago’s Roosevelt collection and the upcoming Childrens Memorial ‘Lincoln Commons’ redevelopment—is marketing the property at the southwest corner of Lake and Racine for new office and retail redevelopment.
While earlier promotional materials for the corner showed a fairly conservative four-story 89,000-square foot brick-clad structure for the site, updated flyers outline a taller six-story (plus penthouse) design consisting of grey steel and glass. The revamped plan will now contain 132,000 square feet of office space, nearly 16,000 square feet of retail, and interior parking for 42 vehicles.
Looking at the renderings, it’s difficult to miss Zynga signage appearing on the top of the building. While this is likely little more than a placeholder showing the kind of high tech tenant McCaffery hopes to attract to the project, it wouldn’t be much of a stretch to image the Words with Friends and Farmville software developer setting up shop in the heart of Chicago’s burgeoning tech office scene.
Currently zoned for Commercial/Mixed-Use C1-2, the McCaffery property will need a change to Downtown Mixed-Use DX-5 if it is to be realized as drawn in its flyers. If approved (and tenants are found), the planned Fulton Market building would compete with a number of nearby mid-sized office proposals in the works from developers like Shapack Partners and Sterling Bay. McCaffery also has plans for a 37,000-square-foot mixed use development at 1115 W. Fulton.