Market development will support Chicago jobs
Posted on April 7, 2017
Fulton Market Development is making great strides to support Chicago jobs.
City officials break ground on a 12-story building that will support affiliates of McDonald’s Corp. and other companies. The $47.2 million in Fulton Market project will house 960 employees when it’s completed in late 2018 and fully leased. The building will also contribute approximately $2 million to the neighborhood opportunity fund.
“This development is a direct reflection of the confidence businesses have in the future we are building in the city of Chicago,” Mayor Emanuel said. “Not only will this project bring nearly 1,000 jobs to Fulton Market, it will also contribute nearly $2 million to support projects and create economic opportunities in Chicago’s neighborhoods.”
The 224,354-square-foot project at 210 N. Carpenter St. is one block north of Sterling Bay’s headquarters complex for McDonald’s, which is relocating its headquarters from suburban Oak Brook. The new building will not be owned or directly supported by the McDonald’s corporation.
Designed by Chicago-based Solomon Cordwell Buenz, the building’s brick, glass and aluminum exterior includes upper level setbacks and a rooftop amenity deck for tenants. One hundred and forty temporary jobs are anticipated to be generated throughout the construction phase.
The 210 N. Carpenter project leveraged the city’s new Neighborhood Opportunity Bonus system, which provides additional density for downtown construction projects in exchange for voluntary financial contributions toward neighborhood development projects. Sterling Bay is contributing $2 million to the system for an additional 86,000 square feet.
“We are very proud of how this building will fit into the neighborhood, but we are most excited to continue to create jobs and generate economic development in the city and neighborhood we call home,” Sterling Bay Principal and General Counsel Dean Marks said.