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Add Marquette Cos. to the growing list of developer and investor interest in pushing Fulton Market's real estate boundaries west. The Naperville-based multifamily firm is buying a site at Lake and Ada streets from Sterling Bay and plans to build a 10-story, 263-unit apartment building there, Crain's Chicago Business reports.
Marquette president Darren Sloniger believes the flurry of office, retail and residential activity in Fulton Market will help the units be easily absorbed. The project will be attractive to renters looking to be near the downtown core for work and the booming Randolph Street restaurant area. Marquette's site is adjacent to the popular music club, the Bottom Lounge, and walking distance to City Winery Chicago.
Marquette joins Trammell Crow subsidiary High Street Residential, which wants to build an 18-story apartment tower at 1375 West Lake Street. Other notable developments in the area are Sterling Bay's Fulton West, and McCaffery Interests, which is planning 150K SF of office and retail at 1201 West Lake.
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