Skender Finishes Construction On 535K SF Fulton Market Office: The Chicago Deal Sheet
Skender completed construction of The Fulton, an 11-story, 535K SF development at 217 N. Sangamon St. in Fulton Market.
The property, developed by Fulton Street Cos. and the Shanna Collective, is the only Class-A office building to break ground in Chicago since 2023. The Fulton opened its doors to tenants in late January and already has office tenants including The Coca-Cola Co.'s Midwestern headquarters, Harrison Street Asset Management, BlackEdge Capital and Permanent Capital.
The development includes floor-to-ceiling windows, outdoor terraces, a rooftop lounge and bar, multiple conference and coworking spaces, and a fitness center.
PEOPLE
The Illinois Quantum and Microelectronics Park tapped Oscar Bedolla as its new chief strategy officer. In the role, Bedolla will help streamline project execution and align stakeholders to advance the IQMP’s vision. Most recently, Bedolla worked as head of insights, performance, analytics and technology for Amazon International Corporate Finance.
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Peak Construction Corp. promoted six employees across its team: Damla Unal to project engineer II, Darshan Patel to project manager I, Tanner Bogaczyk to project manager II, Joe Bielawski to senior superintendent, Liana Kaatz to senior project accountant I and Kate Sinai Park to cost engineer II.
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Guzman y Gomez is accelerating its U.S. expansion with three new Chicagoland locations and key leadership appointments. The retailer will open new restaurants in Lincoln Square, Lakeview and Naperville and is hiring Joseph Devlin as marketing director, U.S., and Kathryn Fechner as head of catering.
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Henricksen appointed Chris Tarzon as vice president of sales in Illinois. In the new role, he will focus on expanding Henricksen’s presence in the Chicago market, strengthening client relationships and driving strategic growth. Prior to joining the company, Tarzon spent more than a decade at Savills North America, where he most recently served as corporate managing director.
SALES
Real Capital Solutions acquired MetroWest, a 10-story, 207K SF office building in Naperville, for $16.1M, roughly half of its prior sale price at near-full occupancy in 2015. MetroWest is currently 67.6% leased and anchored by Midwest Orthopaedics at Rush, which occupies 11% of the building under a long-term lease extending through 2034. This is RCS' second Chicago-area office buy in 2026 following the $132.5M purchase of the nearly 748K SF office tower at 401 N. Michigan Ave. in January.
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A national real estate investment firm acquired U.S. 30 Storage, a 500-unit self-storage property at 1400 Bohr Ave. in Montgomery, for an undisclosed price. The 40K SF property features 278 self-storage units and 222 outdoor parking spaces for vehicles, boats and RVs. Marcus & Millichap’s Jon Silvers and Sean Delaney represented both parties in the deal.
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Inland Real Estate Acquisitions closed on Clarendale of Mokena, a 156-unit senior living community at 21536 Wolf Road in Mokena, from a joint venture between LCS and Nuveen Real Estate. The community is made up of 60 independent living, 56 assisted living and 40 memory care units and was 94% occupied as of closing. Inland's Matthew Tice and Brett Smith completed the deal on behalf of an Inland affiliate.
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Acts2Network scooped up a 510K SF, 82-acre former corporate campus and ministry facility at 1000 N. Randall Road in Elgin from Harvest Bible Chapel. The property includes a 350K SF office building wrapped around a multistory parking deck plus a 160K SF addition developed by Harvest Bible Chapel. The seller was represented by Lee & Associates' Kenneth Franzese and John Cassidy in collaboration with CBRE's Tony Gange.
LEASES
Club Studio signed a 32K SF retail lease at Newberry Plaza, the third lease in the redevelopment of the building's base. The gym will occupy a majority of the second floor and all of the third floor of the retail space at the base of the 53-story Gold Coast residential tower. CBRE’s Luke Molloy, Danny Jacobson and Stephen Ansani represented 11 East Partners and Blackbird Investment Group in the deal.
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Beyoglu USA signed a 28K SF industrial lease at 1425 Nagle Blvd. in Batavia. It is the company's first U.S. industrial space. Brown Commercial Group's Matt Hanson represented the tenant in the deal.
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Apex Systems has signed a long-term, 15K SF lease for the full top floor at 448 N. LaSalle Drive in River North, relocating from 600 W. Chicago Ave. The building recently delivered 32K SF of furnished spec suites. Stream Realty Partners' Erica Marshall and Mark Gunderson represented the landlord, National Real Estate Advisors. Cushman & Wakefield's Jeff Skender, Jack Tunnicliff, Mike DeSantis and Mark Moore represented Apex Systems.
FINANCING
Riverside Investment & Development secured a $65M HUD construction loan for a new 12-story, 199-unit multifamily building at 566 W. Van Buren St. in West Loop. The construction loan has a fixed rate with interest-only payments during construction and converts to a fully amortizing 40-year permanent loan. Draper and Kramer is the lender for the construction loan, and its team of Matt Wurtzebach, Dave Tomfohrde, Bill Barry, Jeff Ross and Kevan Briscoe arranged the financing.
CONSTRUCTION AND DEVELOPMENT
Kingspan Insulation North America completed a new rooftop solar installation at its manufacturing facility in Mendota. The 881-kilowatt rooftop solar system, installed across about 50K SF of roof area, is expected to generate roughly 1 million kilowatt-hours of renewable electricity annually, offsetting approximately 700 metric tons of carbon dioxide emissions.
