JLL Secures $233M Financing for 919 on Fulton Creative Office Development in Chicago’s Fulton Market Neighborhood
In a major deal, JLL has successfully arranged $233 million in financing for the development of 919 on Fulton, a cutting-edge creative office project spanning over 373,000 square feet in Chicago’s highly sought-after neighborhood of Fulton Market. The borrower behind this ambitious venture is none other than the renowned duo of Fulton Street Companies and JDL Development.
The construction financing was secured through Bank OZK and Manulife Investment Management with expert assistance from JLL’s team led by Senior Managing Director Keith Largay, Director Philip Galligan, and Associate Tara Hagerty. This strategic move will pave the way for an exceptional mixed-use development featuring 350,000 square feet of premium office space along with an additional 23,000 square feet dedicated to high-end retail experiences.
According to recent data from JLL’s Q2 Chicago Office Insights report , it comes as no surprise that the bustling neighborhood of Fulton Market boasts approximately seven million square feet worth of prime office inventory. In fact, it leads all other areas within city limits when it comes to absorption rates – particularly within its Class A subtype category. With groundbreaking scheduled for early next year (2023), this project is set to become one-of-a-kind as well as highly coveted among potential tenants seeking top-tier amenities and unbeatable location advantages.
This post originally appeared on Connect CRE .
