Sterling Bay Planning $200M Office Redevelopment In Fulton Market
Sterling Bay is the undisputed king of Fulton Market and West Loop office redevelopment. Already busy building McDonald's new HQ at the old Harpo Studios campus, Sterling Bay is seeking to fast track another office redevelopment.
The firm is seeking approval from the city to build a 400k SF office building at the former Coyne College site at 330 North Green St (shown), a mere two blocks from 1KFulton, which Sterling Bay sold to American Realty Advisors in June for $257M. Sterling Bay bought the 76k SF Coyne campus and an adjacent site for $25M last month, according to Crain's. Coyne now leases a 48k SF space at 1 North State.
Fulton Market and the West Loop was already Chicago's hottest tech office submarket. With the pending McDonald's move, tenant interest in having a Fulton Market address has increased further, and Sterling Bay is hoping to capitalize on it. Plans call for the firm to build a nine-story building on the site, with room for parking, at a cost of $200M. [Crain's]