Rumblings of Google moving their Chicago location from the Merchandise Mart in River North to the now thriving West Loop part of downtown were first reported by Crain’s back towards the beginning of the month. And yesterday, it was in fact confirmed that the mega internet company will soon be migrating west to 1000 W. Fulton Street.
The building, which is being dubbed 1kFulton, was once the site of a huge cold storage facility but is currently in the process of being redeveloped into fabulous new loft-like office space. According to Crain’s most recent report, Google has inked in a lease that gives them a whopping 200,000 square feet of usable space, with the ability to add more space if needed—something they’re currently lacking at the current Merchandise Mart location.
It’s certainly no secret that the West Loop has seen mind-blowing development over the past decade-plus. Randolph Street is the now the hottest place in town for trendy new restaurants and bars, and Madison Street is almost becoming like a new Wrigleyville with plenty of outdoor patios, beer gardens, and great places to catch a game that’s going on just up the street at the United Center. And while this little pocket of the West Loop is vibrant, lively, and perfect for city-dwellers looking for a great downtown Chicago condo or loft, development over the past several years around Fulton Market has been steady, but just a bit slower. Along with some design shops, artist studios, and still plenty of industrial warehouses, Fulton Market also has a handful of awesome restaurants like The Publican and La Sirena Clandestina. But what the neighborhood has really been lacking all this time, however, is a large-scale anchor tenant that drives commerce and new neighborhood development.
There’s no doubt that with Google announcing the bold move to Fulton Market, this part of downtown Chicago should start to see a major development boom in the coming years. As mentioned, Fulton Market was slowly starting to transform itself from a busy meat packing and trucking hub to an artsy, well-to-do part of the city that has endless potential. Now, with an influx of big business and at least 500 workers piling into the area every day for work, the timeline for reaching that potential just got a whole lot shorter.
Ted Guarnero, REALTOR® is a full-time real estate agent with over 1000 homes sold and $400 million in sales. Working with Compass real estate offering professional and effective real estate services to help you succeed in the local real estate market. Visit www.seeChicagorealestate.com for information on downtown Chicago real estate and to get in touch with an expert in the Chicago real estate market. Before you hire your next Realtor call Ted Guarnero 855-See-Chicago, it's on the House !