Sterling Bay is going taller in Fulton Market.
The Chicago-developer led by Andy Gloor and Keating Crown revised its design by adding 14 floors to the office project planned for 330 North Green Street, Urbanize Chicago reported.
Designs now call for a 32-story mixed-use tower with 22,700 square feet of retail and 720,000 square feet of office space to occupy the property spanning a full block. Previous plans were for an 18-story office building called The Porch.
Efforts to get approval for the rezoning of the property needed to start the project show Sterling Bay, like other developers, isn’t removing any chips from office building bets in Fulton Market — the only cluster of office properties in the city to ward off vacancy amid the pandemic and increase their occupancy — despite the challenges presented to the asset class in Chicago as a whole.
It’s also the latest example of Fulton Market’s buildings and Sterling Bay in particular producing taller buildings in the neighborhood. Some of the pioneers of the area, such as Jeff Shapack, have packed office buildings including 167 North Green full of tenants across 17 stories at that property, and Thor Equities built an 19-story property at 800 West Fulton Market.
Sterling Bay’s tower at 330 North Green, which is being designed by Gensler, will rise 503 feet. Average tenant floors will be 29,000 to 30,000 square feet and have ceilings more than 13 feet high. Each floor will also have two 450-square-foot terraces. The podium will hold the retail portion, 40,000 square feet of amenities and parking.
The Chicago Plan Commission, Committee on Zoning and City Council still need to approve the plans. Sterling Bay’s website has an estimated completion date of 2025.
The property, located across the street from another Sterling Bay project at 333 North Green, is immediately south of Metra tracks and bound by West Wayman and North Peoria streets.
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