FULTON MARKET — A prominent West Loop developer’s plan to build a 14-story office building in Fulton Market has been approved by a key city committee.
Sterling Bay received approval from the city’s Plan Commission on Thursday to build an office building at 1200 W. Carroll Ave.
The 227-foot-tall office building, located on the corner of West Carroll and North Racine avenues just south of Metra tracks, would bring nearly 500,000 square feet in office space, ground floor retail and 90 parking spots to the area.
Under plans, the building would also include an amenity deck with a fitness center for tenants and an outdoor plaza, developers revealed at a community meeting in January.
Designed by Gensler Architecture, the building would replace a one-story building and warehouse currently at the site.
To build the 14-story building at 1200 W. Carroll Ave., Sterling Bay will pay $4.3 million into the city’s Neighborhood Opportunity Bonus Fund, a program that allows developers to build bigger and taller projects in an expanded Downtown area.
Sterling Bay will also pay an $734,000 Industrial Corridor convergence fee and $250,000 toward Metra rail upgrades.
During a meeting in January, neighbors lauded the building’s design but some expressed concerns about its proximity to the Metra tracks. Some neighbors also worried the building’s parking plan could cause problems.
Just south of the Sterling Bay’s proposed office building, Ryan Companies and partner IBT Group aims to build two office towers, 18 and 14 stories tall, at 1200 W. Fulton Market.
Last fall, Sterling Bay received city approval to build an 18-story office tower at 1000 W. Carroll Ave. and an 11-story office building at 345 N. Morgan St. in the neighborhood.
The developer is currently working on three office towers north of the proposed 19-story Thor Equities tower: a 20-story building at 330 N. Green St.; a 19-story building at the old Coyne College parking lot, 333 N. Green St.; and a 21-story building at 360 N. Green St.
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