Mark Goodman & Associates secured key city approval for its planned 12-story office tower in Fulton Market, one of slew of office projects in the works for the booming neighborhood.
The Chicago Plan Commission Thursday morning approved the developer’s plan for 310 North Sangamon Street, which would include 225,000 square feet of office space, nearly 8,000 square feet of ground-floor retail, a ninth-floor amenity deck and a rooftop terrace.
The planned $115 million building is being designed by architecture firm SCB, and Cushman & Wakefield will be the broker.
The complex would replace the former Americas propane fueling facility, which has been torn down, and therefore needs a zoning change from light industrial to a mixed-use zoning. The project still needs re-zoning approval and final approval from the City Council.
Retail space in the tower will be about one-third cheaper than nearby space, Goodman said, in response to aldermanic concerns that development in the West Loop is pushing out smaller, “mom and pop” businesses.
Some 6.6 million square feet of office space is in the works in Fulton Market, including 1.7 million square feet on one block alone from Sterling Bay.
Prolific Fulton Market developer Shapack Partners is building a seven-story, 70,000-square-foot office project at 811 West Fulton Street and another office project at 215 North Peoria Street.
And Shapack and Focus Development are planning a massive mixed-use project that would span the area between Halsted and Green streets.