ACRES Capital Corp. has originated a $30.5 million loan to fund the acquisition and pre-development of 1200 West Fulton Street in Chicago, IL. The Property is located in the West Loop submarket of Chicago, IL, which is just one block directly west of the Fulton Market which has been widely considered as one of the hottest submarkets for commercial real estate in the Chicago area. Much like New York’s Meatpacking District, the area has transitioned from its manufacturing and industrial roots into a thriving and fashionable neighborhood lined with art galleries, street murals, restaurants and experiential destinations lining cobblestone streets.
1200 West Fulton Street will feature:
• 19 Adjacent parcels of land totaling 92,944 square feet of land area
• 2 Office/retail buildings totaling 749,250 square feet
• 380-Unit residential tower
• 5,000 Net rental square feet for retail
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