Fulton Market Land Rush To Continue As Another Big Property Hits The Market
Developers have almost completely transformed Fulton Market from an industrial neighborhood into a sleek home for Google, glitzy hotels and thousands of affluent residents.
That transformation may soon be complete.
Bridgford Foods Corp., one of the last food processors in Fulton Market, just hired CBRE to market its 156K SF plant at the corner of Green and Lake streets for a long-term ground lease, with the understanding that the eventual lessor can redevelop the property into hundreds of apartments or new retail.
“This is one of the strongest redevelopment opportunities in the city,” said CBRE’s Keely Polczynski, who will represent ownership in the listing.
Located one block north of Restaurant Row on Randolph Street, the plant is also less than two blocks from the CTA Green Line stop at Morgan Street.
"This corner location will be surrounded by some of the city’s newest apartment and office developments, giving users direct access to a growing portion of Chicago’s top talent,” Polczynski said.
Bridgford secured city approval in 2017 for a mixed-use project on the site with up to 314 multifamily units and 40K SF of retail, but a new zoning ordinance allows developers to re-entitle the property and add density.
The food processor will also consider a sale, partial sale or the formation of a joint venture.
