Over the past few years Developer Jeffrey Shapack of Shapack Partners has amassed a diverse and impressive portfolio of properties in the West Loop’s Fulton Market District slated for retail, hospitality, residential, and commercial uses. Shapack's rather holistic approach to development has not only resulted in new neighborhood hot spots like WeWork and Soho House, but also public artwork befitting of the neighborhood's emerging position as Chicago's creative hub.
Undoubtedly the most prominent upcoming development from Shapack is The Parker Fulton Market located at Lake and Halsted. A joint venture between Shapack Partners, Focus Development, and Atlantic Realty Partners, this curvy 227-unit rental tower designed by Booth Hansen has already begun pre-leasing. Before construction, the development team opened up the facade of the site's former hardware store to street artist Don’t Fret. Panels of the mural have been preserved and will be cleverly displayed throughout The Parker’s interior when the building opens later this year.
Two blocks to the east of The Parker, Shapack Partners plan an 11-story plus penthouse mixed-use development at 200-208 N Green Street that will house retail space, two floors of office, and the 175-key Hoxton boutique hotel. Designed by New York's Morris Adjmi and GREC Architects, the project passed the city’s Plan Commission in March and is targeting a 2018 opening date. In the meantime, Shapack hopes to bring new artwork to the blank brick facade of Vaia Auto Specialists, a commercial buildings that will be demolished ahead of the Hoxton’s construction.
Also part of Shapack’s near term pipeline is a pair of planned office developments approved by the city of Chicago under the Planned Development process last spring. The first project is a seven-story brick and glass structure slated for 801-811 W Fulton, adjacent to the neon Fulton Marks District neighborhood gateway. Despite being an entirely new construction, the design is heavily influenced by the classic Chicago warehouse style.
Meanwhile, an 11-story brick and steel commercial building featuring distinctive cross-bracing is approved to occupy the parking lot at 215 N Peoria. The project will contain 120,000 feet of rentable space, ground floor retail, and a rooftop tenant amenity level. Since receiving their city entitlements in 2015, more detailed renderings of both HPA-designed projects have been released via Shapack's website.
Shapack is also looking to bring a pair of more modestly scaled developments to Fulton Market in the form of single-story retail projects. A 50-foot-wide parcel at 219 N Green is expected to provide 5,000 square feet of commercial space while a single-story brick building at 185 N Morgan will ultimately be demolished for a new structure containing 10,000 square feet of retail. In the interim the existing building is serving as a canvass for a new creation by San Francisco street artist Lauren Asta.
Located just next to the CTA stop, the property on Morgan will also feature the West Loop’s very first "people space," replacing an unused loading lane on the public way. Though no concrete delivery date for these projects has been announced, time is certainly on Shapack’s side as Fulton Market property values continue to soar. An additional pair of proposed residential high-rise developments will likely further feed new demand for nearby office and retail space as the neighborhood moves from strength to strength.
- Fulton Market Mural Will Find New Home in West Loop Tower [Curbed Chicago]
- Booming Fulton Market Area to Get One More Hotel Project [Curbed Chicago]
- Fulton Market archives [Curbed Chicago]