There have been some interesting new construction developments in the Windy City as of late. Here, we discuss three of them: Fulton Market WeWork, the Johnson Publishing Building and the Starbucks on Canal Street.
Randy Rissman of Tiger Electronics is in the process of completing a deal to purchase a six-floor office building located at 210-220 N. Green Street in Fulton. With a price tag of approximately $45 million, those selling the property (Shapack Partners, AJ Capital Partners and Shorenstein Properties) will make a tidy profit on what it paid originally – $6.8 million – in 2013.
The Johnson Publishing Building – located on South Michigan Avenue – is in the process of converting what has been office space to 150 apartments for rent. This should start in the beginning of 2018 by 3L Real Estate which just acquired the construction from Columbia College.
Although it already has the largest Starbucks in Chicago, apparently that’s not good enough for the coffee tycoon. Plans have been revealed to develop it to be more than double of its original size, adding 30,000 square feet in its 111 N. Canal Street building to cater to additional workers behind the scenes who are developing new concepts for the firm. Right now, its regional Chicagoan office is nearly 14,000 square feet, located at 564 W. Randolph Street.