This Week's Chicago Deal Sheet: Workbox Moves Corporate HQ To Fulton Market
Coworking operator Workbox picked Fulton Market as the site of its new corporate headquarters, relocating 20 members of its team from River North.
The team will share space at 220 N. Green St. with its member base. The company has six locations in Chicago. At more than 60K SF, the Fulton Market office is its largest.
“Fulton Market is a key location for the segment of companies that we work with at Workbox,” CEO John Wallace said in a press release. “We also believe that the best way to stay connected to the needs of our members is to work elbow to elbow with them, so we're excited to have found a home where we can grow alongside some of the most dynamic companies in the city.”
Workbox has grown from nine employees to more than 35 nationwide in less than three years.
SALES
Venture One bought a 60K SF industrial building at 700 District Drive in Itasca for $6.2M from Levi Holdings. Lee & Associates’ Jeffrey Janda represented the seller.
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Matterhorn Venture Partners acquired 181 W. Crossroads Parkway, a 33K SF industrial asset in Bolingbrook. The project was originally built as a condo development in 2008, and MVP purchased the asset from two parties to bring the building back to single ownership.
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Hernandez Development closed on 2.7 acres for a self-storage facility in Carol Stream. This site will house the developer's third self-storage facility in the Chicago area. The facility will feature a three-story building and an additional one-story structure, totaling 73K SF.
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Feynlab bought a 17K SF industrial building at 825 Chase Ave. in Elk Grove Village for an undisclosed sum from a private investor. Brown Commercial Group's Candace Scurto represented the seller.
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An undisclosed buyer scooped up a 42K SF industrial building at 250 Covington Drive in Bloomingdale. Lee & Associates' Jay Farnam and Peter Spear represented the seller, while Lee & Associates' Nick Eboli and Dave Newton represented the buyer.
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Nassimi Realty bought Joffco Square, a retail center at 555 W. Roosevelt Road in the South Loop, for $9.25M. The 100K SF property was acquired by the prior owner for $27M.
CONSTRUCTION AND DEVELOPMENT
Principle Construction started construction on two new buildings in Chicago Heights for Morgan Li, a family-owned furniture and fixture fabricator. The first building will be 238K SF, while the second building will be 38K SF.
THIS AND THAT
Mars Wrigley selected Chicago-based McCaffery Interests to reconstruct the candy-maker’s historic factory site in the Galewood neighborhood. McCaffery Interests will work with local community groups to develop plans for the 20-acre site on the city’s Northwest Side. Mars Wrigley plans to close operations there this year and move its manufacturing to other U.S. locations.
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Magnicity, parent company of 360 Chicago, the observation deck on the 94th floor of 875 N. Michigan Ave., brought on Skidmore, Owings & Merrill to lead the architectural redesign and redevelopment of the skyscraper’s 95th and 96th floors. Magnicity and 360 Chicago plan to reopen both floors to the public in 2026.
