Fulton Market Land Rush To Continue As Another Big Property Hits The Market
Want to get a jump-start on upcoming deals? Meet the major Chicago players at one of our upcoming events!
That transformation may soon be complete.
Bridgford Foods Corp., one of the last food processors in Fulton Market, just hired CBRE to market its 156K SF plant at the corner of Green and Lake streets for a long-term ground lease, with the understanding that the eventual lessor can redevelop the property into hundreds of apartments or new retail.
“This is one of the strongest redevelopment opportunities in the city,” said CBRE’s Keely Polczynski, who will represent ownership in the listing.
"This corner location will be surrounded by some of the city’s newest apartment and office developments, giving users direct access to a growing portion of Chicago’s top talent,” Polczynski said.
Bridgford secured city approval in 2017 for a mixed-use project on the site with up to 314 multifamily units and 40K SF of retail, but a new zoning ordinance allows developers to re-entitle the property and add density.
The food processor will also consider a sale, partial sale or the formation of a joint venture.