Fulton Market Re-Development Opportunity - ±23,518 SF Site

The West Loop/Fulton Market is Chicago’s former warehouse district and is among the most rapidly developing neighborhoods in the country and recently ranked by TimeOut as one of the top 20 coolest neighborhoods in the world. Originally a mix of factories, meat markets, and wholesale produce outlets, the neighborhood has seen a major demographic shift over the last decade. The historic brick and timber loft buildings that define the neighborhood have largely been converted to other uses, including a mix of luxury condos, creative offices, art galleries, critically acclaimed restaurants, hotels, and retail boutiques. The area has evolved into a must-see destination for locals and visitors who want to eat well. With new restaurant concepts opening on almost a weekly basis, the area boasts everything from Michelin Star rated Blackbird, Elske, Roister, Oriole, Smyth & The Loyalist and Sepia restaurants to more casual options like Green Street Smoked Meats, Shake Shack, Sweetgreen, Parlor Pizza, Federales, Nando’s and Roti. Other well-known dining options include Girl and the Goat, Monteverde, Beatrix, Swift and Sons, Au Cheval, Lena Brava, Aviary, Momotaro, City Winery, Publican and Avec. The neighborhood’s international reputation continues to grow with the expansion of Google’s Midwest headquarters, and the opening of McDonald’s Global headquarters, Soho House hotel, Nobu Restaurant and hotel, Hoxton hotel, the We Work co-working building, Punch Bowl Social and The Emily Hotel. Other companies calling the West Loop home include Uber, Ernst & Young, WPP, LinkedIn and Mondelez International. High-end retailers are also recognizing the area’s potential with the recent additions of Anthropologie, Free People, Billy Reid, Aesop, Allbirds and Blue Mercury. Excellent public transportation options including Metra train access at Ogilvie and Union Station combined with one of the city’s newest CTA stations with an annual ridership of almost 1 million passengers yearly. The Morgan and Lake station will continue to attract businesses and residents alike, making the West Loop one of Chicago’s most exciting and desirable neighborhoods.SVN CHICAGO COMMERCIAL is pleased to offer for sale a ±23,000 SF redevelopment opportunity in Chicago’s dynamic Fulton Market neighborhood. The property, located at 1375 W Lake Street, has been the longtime home of “Bottom Lounge”, a renowned ±18,000 SF hospitality venue specializing in live music with a full-service restaurant kitchen, large bar/restaurant space, and a 2nd floor catering facility with a large outdoor deck and parking for ±25 cars. The site is currently zoned C1-3 but sits in the “Downtown Expansion-West” area as well as being in a TOD ( Transit Oriented Development) zone, both of which allow for increases in density and parking relief for vertical multi-family development. The property is positioned in the midst of many recent and soon-to-come high-rise residential, mixed-use, office, life-science, hotel, etc., properties and is suitable for many different types of redevelopment. The current ownership is in a position to afford a developer time for re-zoning the property to suit their needs. This is a rare opportunity to acquire a large development site in one of the most sought-after submarkets in the entire country.