I took this photo on November 17, 2015, and processed it in my digital darkroom May 3rd, 2020. Click to embiggen
Nikon D7000 35.0 mm f/1.8 ƒ/2.5 35.0 mm Shutter -1/60 ISO 100
Tri-X 400, in emulation, provided via a Photoshop filter (Exposure 5), plus some other tricks-of-the-trade, including using a gold reflector, and other techniques to accentuate the rain.
A while ago1 I purchased a raincoat for my camera: basically a thick, transparent plastic sleeve with a drawstring at one end. The drawstring is used to wrap tightly around the end of the lens, and the rest of the camera is contained within the sleeve, and thus kept dry. It works pretty well actually, except changing camera settings is a bit tricky, as is focusing, sometimes.
probably before this photo was taken, but maybe not, who can remember [↩]
I took this photo on May 29th, 2017, and processed it in my digital darkroom on January 27th, 2020.
I didn’t have to do much, just bring up light in the shadows a bit to show off the red dress on the mannequin, while keeping the green windows from over-exposing and thus maintaining the urban noirish feel.
I already forget where the title came from, but it meant something at the moment (and it is part of a longer poem).
A Texas developer is making a bold bet on the future of Chicago’s life sciences sector, planning what it hopes will become a major hub for the industry in the city’s hottest corporate neighborhood.
In an ambitious move meant to address a dire shortage of high-quality local lab space, Dallas-based Trammell Crow today announced its vision for Fulton Labs, a 400,000-square-foot life sciences laboratory and office building it wants to build at 400 N. Aberdeen St. in the former meatpacking district.
The project has the potential not only to draw biotechnology and pharmaceutical companies to Fulton Market, the gritty-turned-trendy home of corporate giants like Google and McDonald’s, but it may also mark a critical step toward solving a cultivation problem in the city: Homegrown life sciences companies often move to markets like Boston and San Francisco to scale their businesses because they have facilities to help them mature.
The developer, which has two other office projects under construction farther west in Fulton Market, submitted plans in September for a large office and retail building along Kinzie Street between Aberdeen and May streets. That followed more than a year’s work planning Fulton Labs in partnership with Chicago life sciences entrepreneur John Flavin, who will help oversee the design and marketing over the building.
Trammell Crow is rolling the dice on a type of property that most developers have avoided, despite overwhelming demand. Life sciences facilities are expensive to build, requiring special ventilation, electrical and safety systems to accommodate chemical reactions, and extra security to protect highly valuable intellectual property. They’re risky, because what may be suitable for one tenant may require a massive overhaul for a future one after a lease expires.
The 16-story building would be “designed to the highest possible laboratory standards by some of the world’s most respected life sciences architects, lab designers and engineers,” the company said in a statement.
Floors would be column-free and laid out to accommodate lab space as well as offices, and the building would include a slew of amenities such as a rooftop lounge and patio. One floor would be designated as a shared lab and office space to help lure startups.
John O’Brien of Chicago real estate website, The Real Deal reported back in April:
AIC Hotel Group is suing MCZ Development, saying the developer didn’t disclose an air-rights deal for a billboard when the two made a Fulton Market land transaction.
The failure cost the chain an opportunity to build a hotel, according to the suit.
AIC in December bought a parking lot at 600 West Randolph Street from MCZ for $7 million, with plans to build a hotel on the land, the lawsuit contends. But after the deal closed, AIC learned that Clear Channel had an air rights deal that guaranteed a billboard on the building next door would not be obstructed, the suit said.
The billboard deal runs through 2042. The suit claims MCZ didn’t tell AIC about the billboard agreement before the Randolph Street land deal closed, nor was the air rights agreement ever recorded with Cook County.
wow. As an interested observer of this parking lot, I was curious as to why nothing had been built here in the hot Fulton Market area, year after year. Perhaps this is this reason? Presumedly, Clear Channel could sell the rights to AIC Hotel Group for some fee, but perhaps they want more than AIC Hotel Group is willing to spend. 24 years, 12 months a year, how much revenue could one billboard generate? If Clear Channel got $5,000 a month1, that would be $1,440,000. If AIC offered Clear Channel $800,000 cash, would they accept it? I bet this is a solveable issue.
As a parenthetical thought, I miss the website, EveryBlock, as I would have heard of this story before today…
Sterling Bay has a $25 million deal to buy an Archer Daniels Midland wheat mill in the Fulton Market district, and hopes to replace it with a project that would include the neighborhood’s first Metra station.
The busy Chicago developer has a contract to buy the 2.2-acre property at 1300 W. Carroll Ave., pending due diligence, ADM spokeswoman Jackie Anderson said in an email. She did not confirm the sale price, which sources said is about $25 million.
…Sterling Bay executives declined to comment on the deal with ADM, or on specific plans for the site, but people familiar with the firm’s plans say it wants to put a Metra station there. Erin Lavin Cabonargi, Sterling Bay’s director of development services, said the firm supports long-running efforts to create a Metra station, “further strengthening the expansion of the central business district and the job creation the neighborhood is promoting.”
It’s unclear whether the train station would be built into the base of a new structure, as seen in downtown skyscrapers, or if it would be a standalone platform. The estimated cost is unknown.
More public transit options are always more better, and traffic in this area is increasingly gridlocked even before all these new corporate HQs and new apartment/condo buildings come on line, so traffic is only going to get worse.
As an aside, Sterling Bay came of nowhere to become one of the biggest developers in the West Loop, and seemingly are targeting the entire city.
The Federal Savings Bank, West Loop, in the news again.
Crain’s Chicago reports:
Two senior House Democrats are pushing to subpoena the Department of Defense on whether Trump administration officials considered nominating Chicago banker Stephen Calk as secretary of the Army after his small local bank made outsized loans to Donald Trump’s former campaign manager.
The request for a subpoena was made in a letter today—you can read it below—to U.S. Rep. Trey Gowdy, R-Texas, chairman of the House Oversight & Government Reform Committee, from the panel’s senior Democrat, Rep. Elijah Cummings of Maryland, and Rep. Stephen Lynch of Massachusetts, senior Democrat on the House Oversight subcommittee on national defense.
The two Democrats said the Defense Department hadn’t produced any of the documents they asked for, nor said when it would.
The letter referenced “extremely troubling reports that a banker named Stephen Calk may have made loans of up to $16 million to President Donald Trump’s campaign chairman, Paul Manafort, in exchange for promises to name him secretary of the Army.”
Calk’s Chicago-based lender, Federal Savings Bank, made a total of $16 million in loans to Manafort in December 2016 and January 2017. They were collateralized by homes in New York City, the Hamptons and Virginia.
At just $364 million in assets, Federal Savings Bank is far too small to be making loans of that size to a single borrower.
“Although Mr. Calk ultimately was not given a position with the department, reports that he was being considered for a high-level and highly sensitive national security position within the Trump administration as part of a quid pro quo with Mr. Manafort raise serious concerns that, completely apart from Special Counsel Robert Mueller’s investigation, warrant scrutiny by Congress,” the Democrats’ letter said.
They want to review all Defense Department documents and communications regarding a potential role for Calk, among other items.
There is a small brick building on the corner of Fulton and Elizabeth; on the third floor is the Federal Savings Bank. Unless you follow the news closely, you’ve probably never heard of this bank – it doesn’t advertise that I know of, nor does it maintain a high profile.
Federal Savings was born out of Generations Bank, a Kansas thrift bought by Calk and his brother John Calk in 2011. That bank, which had about $40 million in assets, was undercapitalized, facing regulatory restrictions and posting losses for five straight years, according to a 2012 story in ABA Banking Journal, an American Bankers Association publication.
Now headquartered on Chicago’s Near West Side, successor institution Federal Savings in 2012 said it was getting $18 million in tax breaks over 10 years from the state through the Economic Development for a Growing Economy, or EDGE, program as well as up to $4 million in training money from the city of Chicago.
The bank had 842 full-time workers as of the end of March. Steve Calk has said about 10 percent of the bank’s employees are veterans like him.
Federal Savings has three branches or loan production offices in Illinois: at its headquarters and in Lake Forest and Naperville, according to its website.
Does that seem like a lot of employees for such a small bank? I wonder what they all do, and where they all fit? Who knows, I’m not a banking expert. Maybe many employees work remotely, or in Lubyanka Square?
Entrance to The Federal Savings Bank
Federal Savings Bank (FSB, not to be confused with the Russian FSB which is the successor organization to the KGB) is1 tight with the Donald Trump 2016 campaign, and with Trump’s campaign manager, Paul Manafort. Tight enough that this small bank loaned 1/4 of its assets to Manafort to cover the payments on two of Manafort’s properties, despite his seemingly shaky credit (one property was in foreclosure after a loan default, the other property was not yet in foreclosure, but was also in default).
The Wall Street Journal reports:
New York prosecutors have demanded records relating to up to $16 million in loans that a bank run by a former campaign adviser for President Donald Trump made to former campaign chairman Paul Manafort, according to a person familiar with the matter.
The subpoena by the Manhattan district attorney’s office to the Federal Savings Bank, a small Chicago bank run by Steve Calk, sought information on loans the bank issued in November and January to Mr. Manafort and his wife, the person said. The loans were secured by two properties in New York and a condominium in Virginia, real-estate records show.
The Wall Street Journal reported in May that Manhattan District Attorney Cyrus R. Vance Jr. and New York Attorney General Eric Schneiderman had begun examining real-estate transactions by Mr. Manafort, who has spent and borrowed tens of millions of dollars in connection with property across the U.S. over the past decade. Investigators at both offices are examining the transactions for indications of money-laundering and fraud, people familiar with the matters have said.
The Journal reported that at the time of the loans from Federal Savings Bank, Mr. Manafort was at risk of losing a Brooklyn, N.Y., townhouse and his family’s investments in California properties being developed by his son-in-law, real-estate and court records show.
Mr. Calk was a member of Mr. Trump’s economic advisory panel who overlapped with Mr. Manafort on the Trump campaign. Messrs. Manafort and Calk knew each other before the campaign, a person familiar with the relationship has said.
The bank’s loans to Mr. Manafort equaled almost 24% of the bank’s reported $67 million of equity capital, according to a federal report. Around the time they were issued, Mr. Calk had expressed interest in becoming Mr. Trump’s Army Secretary.
I walked over to this bank a few weeks ago, and it is sort of strange, at least to me. FSB is an odd kind of bank, only on the third floor of 300 N. Elizabeth, with a building security employee that won’t let you go up unless you are a member of the bank, plus they won’t allow photography in the lobby. Reading through FSB’s Yelp reviews, they seem a little sketchy, sending out loan application letters to veterans almost to the degree of spam and many other complaints of incompetence and worse. Of course, Yelp reviews aren’t the most reliable, but still, this bank has a lot of unhappy (civilian) clients.
Horrible experience. They send letters every week to advertise being part of the VA IRRRL program. If you look, you’ll notice the phone number is different in every letter. So, you can’t trace if there’s been any complaints about the number. The representative got very defensive when he couldn’t answer why the number is different and after I asked to speak with a manager, he said he’d take me off the mailing list and hung up on me. After I tried calling back with no answer, I received a call from someone who apologized, and though he was very nice and informative, I still believe this company is very deceptive. The first guy told me they are VA owned and operated when I asked if they are from the VA. He then said its because 95% of their loans are to veterans. THAT DOES NOT MAKE THEM VA OWNED! I just learned they used to operate under the name Chicago Bancorp and they have a lawsuit against them from 2014, and the owners’ names are the same as now.
Makes one wonder how FSB is making a profit, suddenly, after years of not making profits. Maybe there are other sources of income besides veterans and tax dollars from the State of Illinois and the City of Chicago?
Reference to home values in the area suggests that the outstanding principal on the loan secured by the townhouse at 377 Union Street may exceed the market value of the property. Reports suggest that the property has been empty for the last 4 years and is currently in disrepair (link). The mortgage secured by the Bridgehampton property indicates that the borrower was required to deposit $630,000 as additional collateral. The mortgage secured by 377 Union Street indicates that the borrower was required to deposit $2.5 million as additional collateral.
A former senior official said Mr. Mueller’s investigation was looking at money laundering by Trump associates. The suspicion is that any cooperation with Russian officials would most likely have been in exchange for some kind of financial payoff, and that there would have been an effort to hide the payments, probably by routing them through offshore banking centers.
Since President Trump won the Republican nomination, the majority of his companies’ real estate sales are to secretive shell companies that obscure the buyers’ identities, a USA TODAY investigation has found.
Over the last 12 months, about 70% of buyers of Trump properties were limited liability companies – corporate entities that allow people to purchase property without revealing all of the owners’ names. That compares with about 4% of buyers in the two years before.
USA TODAY journalists have spent six months cataloging every condo, penthouse or other property that Trump and his companies own – and tracking the buyers behind every transaction. The investigation found Trump’s companies owned more than 430 individual properties worth well over $250 million.
Since Election Day, Trump’s businesses have sold 28 of those U.S. properties for $33 million. The sales include luxury condos and penthouses in Las Vegas and New York and oceanfront lots near Los Angeles. The value of his companies’ inventory of available real estate remains above a quarter-billion dollars.
Profits from sales of those properties flow through a trust run by Trump’s sons. The president is the sole beneficiary of the trust and can withdraw cash any time.
But the Justice Department inquiry led by Mueller now has added flavors. The Post noted that the investigation also includes “suspicious financial activity” involving “Russian operatives.” The New York Times was more specific in its account, saying that Mueller is looking at whether Trump associates laundered financial payoffs from Russian officials by channeling them through offshore accounts.
In that context, a troubling history of Trump’s dealings with Russians exists outside of Russia: in a dormant real-estate development firm, the Bayrock Group, which once operated just two floors beneath the president’s own office in Trump Tower.
One of Bayrock’s principals was a career criminal named Felix Sater who had ties to Russian and American organized crime groups. Before linking up with the company and with Trump, he had worked as a mob informant for the U.S. government, fled to Moscow to avoid criminal charges while boasting of his KGB and Kremlin contacts there, and had gone to prison for slashing apart another man’s face with a broken cocktail glass.
In a series of interviews and a lawsuit, a former Bayrock insider, Jody Kriss, claims that he eventually departed from the firm because he became convinced that Bayrock was actually a front for money laundering.
Kriss has sued Bayrock, alleging that in addition to laundering money, the Bayrock team also skimmed cash from the operation, dodged taxes and cheated him out of millions of dollars.
which makes this real estate transaction, a few blocks away2 from FSB’s West Loop HQ so eye-catching:
The record purchase price for a West Loop condo is set to more than quadruple, with a buyer agreeing to pay more than $5 million for a not-yet-built penthouse on Washington Street.
The asking price is about $5.6 million for the home, which is under contract. The listing agents declined to provide any details on the buyer, whom they referred to only as “he.”
Construction is scheduled to start next month, with the building ready for occupancy by summer 2018.
The penthouse prices astonished Baird & Warner agent Nicholas Colagiovanni, who sold the previous record-setter, a 2,400-square-foot loft at 1000 W. Washington, which closed this week at $1.2 million. It’s one of four condos sold in the neighborhood that have sold for $1 million or more so far this year.
So a condo, in a building not even under construction yet, is worth 4 times more than the previously record holder for most expensive, one on the same block? One wonders what sort of business the purchaser is in. Do they speak Russian? Hmm.
Archer Daniels Midland is planning to close a 120-year-old Chicago wheat mill and move operations to a new facility it is building in rural Mendota, Ill.
The Chicago-based food processing giant on Friday announced construction of the new flour mill, which is slated to open in mid-2019. The high-capacity facility will be adjacent to ADM’s existing Mendota grain facility, about 90 miles west of Chicago in LaSalle County.
The current plant on West Carroll Avenue in the trendy Fulton Market district, will continue to churn out flour until the new facility is fully operational, the company said Friday.
The Chicago plant was built in 1897 by B.A. Eckhart Milling, which operated it for decades. ADM purchased it from Dixie Portland Flour Mills in 1990 for about $14 million, according to Cook County records. Located in the once-gritty meatpacking district on the Near West Side, the plant is now something of an anachronism amid the trendy restaurants, bars and office buildings that have sprung up in recent years.
The 250,000-square-foot industrial facility sits on a 2-acre site, according to CoStar Group.
The red-hot West Loop/Fulton Market District’s hospitality scene is showing no signs of slowing down as Shapack Development is set to unveil a Morris Adjmi-designed 11-story hotel proposal at the northwest corner of Lake and Green Street. Fresh off the success of their acclaimed 40-room Soho House, the Chicago-based developer is upping the ante with a 165- to 171-room project just one block south at 832-850 W. Lake, a site currently occupied by a low-rise meat packing business and parking lot. According to a conversation with Crain’s, developer Jeff Shapack confirmed the new development will include ground floor retail and dining, parking on the second floor, office space on the third and fourth floors, and hotel rooms up to the building’s 11th level rooftop deck. The hotel operator has not been announced, but with both the nearby Ace and Nobu hotels also in the pipeline to meet the area’s surging demand for hip lodging, a boutique brand would be a good guess for Lake and Green as well.
Interesting. And a block from the big Sterling Bay rehab of the Fulton Market Cold Storage building, set to be a regional headquarters for Google, Inc., et al…
Prospective medical marijuana dealers made their pitches to the Zoning Board of Appeals to set up in various neighborhoods, touting their security and financial plans.
Perry Mandera, owner of a Near North Side strip club called VIP’s, A Gentleman’s Club, got the go-ahead for a permit to operate a cannabis dispensary in the meatpacking area of the West Town neighborhood, at 1105 W. Fulton Market.
The approval came despite opposition from three area residents who live around Fulton Market and said they worried about safety because of cash pickups at the dispensary, and additional congestion because of the heavy truck traffic and limited parking available near where Mandera wants to operate.
The city plans to allocate more than $42 million to improve parts of the West Loop included in its proposed Fulton Market Innovation District, a plan being pushed by the mayor as a way to encourage yet corral the neighborhood’s explosive growth.
The investments will kick off with the construction of a $500,000 gateway arching over Fulton Market at Halsted Street to welcome visitors to a proposed historic market district honoring the meatpacking companies and food wholesalers that have been operating there for a century.
The bulk of the $42.6 million allocation of public money, about $16 million of which is still pending approval from the city’s Department of Transportation, would go to infrastructure improvements like street paving and sidewalk repairs along Kinzie, Fulton Market, Randolph and Lake streets. Most of the money will come from the existing tax increment financing district, set up in 1998, though an estimated $10 million proposed for rebuilding Lake Street would be a mix of local, state and federal funds.
Mayor Rahm Emanuel, who spearheaded the innovation district plan, said the driving force for it was the surge in real estate deals that followed the 2012 opening of the $38 million Morgan Street CTA station.
“When we make these investments, they spur a series of private-sector economic development and opportunities for the city and growth,” Emanuel said. “And here, which is unique, you’ve got to do it in a way that strikes a balance between the history, and the preservation of that, while you embrace the change that is occurring simultaneously. And I think we’ve come up with that equitable balance.”
Designating the area an “innovation district,” a growing trend in cities, highlights the mix of traditional manufacturing, tech companies, social scene and transit access that has become important to attracting a young, creative workforce. Some of the employers coming to the area, including Google, SRAM, Uber, Brooklyn Bowl and Soho House, are expected to add 2,385 jobs, according to figures provided by the mayor’s office.
“It is and represents a new direction of the city’s economy,” said Andrew Mooney, commissioner of the city’s Department of Planning and Development. While the city has other emerging “innovation centers,” the restaurant-rich Fulton Market area is unique because of its historic and current connection to food, and the fact that it is not linked to a university.
The city also announced a new public bike station it has planned for the lower level of an 83,000-square-foot former meatpacking building under redevelopment at 210 N. Green St., where New York-based WeWork plans to open a collaborative workspace next year.
The 3,100-square-foot bike station, which aims to accommodate bike commuters with locker rooms and showers as well as bike storage, will be privately operated by WeWork as a business and use no public funds, though the mayor brokered the arrangement, city officials said.
Sounds good, more biking amenities is good news for the City, imo, especially when one of the options of becoming a WeWork member is “Free Beer”1
Fulton Market Food & Liquors – mural
and still some current property owners are whining about not being able to sell their historic buildings to developers who will then raze the building, and replace the 19th century brick structure with a drab condo building with architecture inspired by Home Depot. Viva capitalism!
The land use plan, which will be adopted as policy by the planning department this summer, does not overtly change zoning but imposes guidelines for how parts of the proposed district — bordered by Halsted, Ogden, Randolph and Hubbard Streets — should be developed.
The most controversial part of the plan calls for portions of Fulton Market and Randolph Street to be given historic landmark status to preserve the character of storefronts that are the last remnants of the city’s food-manufacturing past. The neighborhood’s three major community groups — the Randolph/Fulton Market Association, the West Central Association and the West Loop Community Organization — have all formally opposed the landmark proposal, saying they’re concerned about the restrictions that would prevent demolition of some buildings and dictate the design of all.
While it maintains the existing zoning, the plan provides guidelines for how the neighborhood should be developed so that officials deciding the fates of the many projects being proposed can follow a strategic vision, said Steven Valenziano, assistant zoning administrator with the Department of Planning.
The part of the plan that imposes historic landmark status on buildings within a section of the district — along Fulton Street between Racine Avenue and Green Street, along Randolph Street between Carpenter and Halsted streets, and the swath of Sangamon Street from Fulton to Randolph — is being met with staunch resistance from some Fulton Market business and property owners.
They worry the preservation restrictions will handcuff them to obsolete buildings, making it hard to do business if they need to make building improvements, or reduce the resale value if they decide to leave.
Holding My Life in My Hand
“It turns my business into an exhibit in this theme park,” said Melissa Otte, part of the family that owns the butter, cheese and egg distributor Meloney Cunningham & DeVic at 1114 W. Fulton St., which is one of the buildings that would be landmarked. “It’s really upsetting to hear that you’re history when you still work there.”
There is a new proposal to turn the Fulton Market corridor into an historic district, meaning that real estate developers would not be able to tear down existing structures here willy-nilly to put up cookie-cutter condos or boring square box stores. No more McDonald’s, in other words, unless they are put in an existing structure.
In general, I’m for this idea, I think it is intriguing, but the details are always key, of course. How heavy handed will the City be? Where is the money going to be coming from? Who will be the decision maker? How soon will the National Register of Historic Places act if asked?
Dozens of buildings along major stretches of Randolph Street and Fulton Market — including ones that house some of the city’s best-known restaurants — would become part of a historic district under a city proposal that the Commission on Chicago Landmarks will consider Thursday.
The proposal — presented at a community meeting Tuesday night — calls for granting historic designation to a six-block stretch of buildings on Randolph between the Kennedy Expy. and a property just west of Carpenter Street and along Lake Street from Peoria to Morgan streets. An eight-block stretch on Fulton Market between Halsted Street and Racine Avenue would also be landmarked.
The 75 buildings that would be affected by the historic designation currently house restaurants including the Girl and the Goat and the Publican and multiple restaurant supply businesses and butchers.
The proposed historic district is part of a larger land-use plan that would regulate building construction and designs in the area and also bring streetscaping and other improvements to create a “distinct sense of place,” documents say.
The proposal stated the plan would help preserve “an area of historic buildings occupied by new and traditional food business that showcase Chicago as the culinary epicenter of the Midwest.”
It’s also an area that “has attracted innovative industries” — including Google — which the city believes will continue.
I’ve taken a few photos of Fulton Market over the years, click here for some of them…
Technicolor Haze over West Loop
Fulton Street Wholesale
Fulton Street Nocturne
If you’ve ever visited Pike Place Market in Seattle, the River Market District in Kansas City, or the Gansevoort Market District (Meat Packing District) in New York, you’d have an idea of what the City of Chicago is thinking about.
Lets Make a Deal
Here’s the presentation itself if you are interested.
The presentation mentions the transformation of the CCP Holden Building on W. Madison as an example of what could be done, and it is true, there are several older buildings left on Fulton Street that could use a little loving care and restoration after years of neglect.
There were credible rumors1 that Google was going to move into the West Loop, but then Google signed a lease in River North instead. However, according to Crain’s Chicago, it still might happen:
Google Inc. is mapping new office territory in Chicago. The Mountain View, Calif.-based technology giant is in talks to move its Chicago office to the city’s meatpacking district, where it would lease more than 200,000 square feet, sources say. If a deal is struck, it would dramatically reshape the gentrifying Fulton Market-Randolph area, where foodies flock to a thriving restaurant row but major office tenants have yet to arrive. Landing one of the world’s most recognizable companies would bring instant legitimacy to an office market now made up of small tenants in low-rise loft buildings.
… “Google is an unbelievable engine,” says Chicago tenant broker Bob Chodos, a principal at Seattle-based Colliers International who is not involved in the Google deal. “Wherever they go gets bigger.” Google’s employees, mostly in sales, are outgrowing the Kinzie Street tower where the company’s lease for about 150,000 square feet expires at the end of 2015. As Google expands here, it is expected to need more than 200,000 square feet, and possibly up to 300,000, sources say.
Enter Sterling Bay Cos., which reached an agreement to buy the 10-story Fulton Market Cold Storage warehouse, the tallest in the neighborhood, in 2011. The Chicago developer is converting the existing building and an attached new structure into about 540,000 square feet of office and retail at 1000 W. Fulton St. by late next year.
In addition to Google, Boka Restaurant Group—which includes chef Stephanie Izard’s nearby Girl & the Goat and Little Goat Diner—is finalizing a deal for a steakhouse on the ground floor of the former meat storage facility, sources say.
Already, construction of a Soho House hotel is underway near the intersection of Halsted and Randolph streets. Nobu Hospitality Group, whose owners include actor Robert De Niro, in March confirmed its desire to put another boutique hotel and a Japanese restaurant on Randolph.