Sterling Bay, a Chicago-based developer, has enlisted the services of JLL to market and sell a prime development site located at 345 N. Aberdeen Street in Fulton Market. The property spans over 48,383 square feet and includes an industrial building measuring 17,553 square feet that could potentially be demolished for redevelopment purposes. According to Crain’s report, JLL’s Dan Reynolds and Jack Hubbard are representing the listing.
The sought-after location is adjacent to Google’s Midwest headquarters and was acquired by Sterling Bay from Cougle Commission for $20.8 million in 2021. Currently seeking zoning approval for a potential residential project with approximately 559 units, Sterling Bay has been actively investing in this rapidly growing area.
This development site is strategically positioned just south of where Sterling Bay plans to build a new apartment tower consisting of 390 units while also recently completing another successful residential project at nearby address -160 North Morgan Street- which stands tall at an impressive height of twenty-nine stories.
Fulton Market continues its upward trajectory as one of Chicago’s most vibrant neighborhoods with numerous developments underway including those focused on life sciences as well as multifamily projects.
