Snapshots

Chicago Fulton Market leasing keeps pace with new development

Fulton Market’s growing popularity is not breaking news to anybody following Chicago’s real estate business.

February 25, 2019
Chicago Fulton Market leasing keeps pace with new development
  • Fulton Market’s growing popularity is not breaking news to anybody following Chicago’s real estate business. One of the most popular submarkets in a city that is traditionally dominated by massive skyscrapers, it is filled with low and mid-rise creative office space. 
  • In recent years, it has attracted impressive global tenants (McDonald’s, Google,  WPP) and developers alike (4.525 MSF of new development 2019-2022, +112% of current supply).
  • For a submarket that was an afterthought not even a decade ago, the ability to bring in the major tenants is impressive; however, they don’t contribute to all of the leasing velocity Fulton Market has experienced. In Q4 2018, 80% of all future space that had broke ground was preleased. Today, 73% and counting, of space delivering in 2019,  is preleased.

Source: JLL Research

Like what you read?

You may also like