The Future of Fulton Market Lies in New Office Towers, Not Renovated Industrial Lofts

The first wave of major development in the Fulton Market neighborhood is coming to an end, but a new one is just beginning.

Sterling Bay set off the development explosion when it bought 1000 West Fulton, a cold storage building that towered over the once-industrial area west of the Loop, in 2012 for $12M and by 2015 transformed it into 1KFulton, the regional headquarters of Google. The influential tech firm’s arrival signaled that Fulton Market had become a true office submarket.

“That gave everyone the green light,” Skender Vice President Clayton Edwards said.

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