Chicago Real Estate News & Neighborhood Notes - August, 2022

Top Companies To Work For in Chicago’s Fulton Market Neighborhood

Chicago’s Fulton Market is red hot right now and some top companies have taken notice, which is why it's now considered one of the city's most bustling tech and business corridors. In fact, here's a closer look at just some of the companies that now call Fulton Market home.

Tock LLC

Tock LLC is a reservation, table management and guest system for restaurants that’s headquartered in Chicago’s West Loop neighborhood. In less than ten years, the company’s launched its services in more than 100 cities around the world. Some of Tock’s recent job openings in Chicago have been in the engineering and sales fields.

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Introducing Some of Chicago’s Hottest New Restaurants

If you’re looking for a great place to grab a bite to eat in Chicago, you certainly don’t have to venture far. There are some tasty options out there, serving up everything from fried chicken and pastries to fine cuisine.

Kasama - Ukrainian Village

It hasn’t been open for long, but Kasama in Ukrainian Village is already known for its long lines. This crowd-pleasing restaurant serves up a daytime menu and pastries during select hours on Wednesdays through Sundays. On Thursday through Sunday evenings, the hot spot opens for what it calls its 13-course, Filipino-inspired tasting menu. Eater.com recently ranked Kasama one of “The 11 Best New Restaurants in America”. It’s also deemed the world’s only Michelin-starred, Filipino restaurant.

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Developer Behind 4 Projects and Nearly 1,000 New Apartments in West Loop

While Fulton Market remains a hot target for developers, one developer is credited with nearly 1,000 expected new apartments on the western edge of the West Loop. Darren Sloniger splits his time between being a minister in Elgin and helping transform the landscape of a part of Chicago he refers to as Fulton West.

As a partner at Marquette Cos. In Naperville, Sloniger is helping to develop the area with four new apartment buildings. The first one opened on Ada Street in 2019.

The Mason contains around 260-apartments. Last spring, Sloniger’s firm opened Parq Fulton at the corner of Ogden Avenue and Randolph Street in Fulton Market.

The final apartment project is expected to open late next year on Ashland Avenue. When all is said and done, it’s expected the…

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Fulton Market Redevelopment Poised to Push West

Redevelopment in the Fulton Market neighborhood could be in line to push even farther west in the future. That’s thanks, in part, to developer Darren Sloniger.

He’s in the process of developing four residential projects on the western edge of the West Loop. Altogether, the projects aim to bring in nearly 1,000 new apartments.

Sloniger’s a partner at Marquette Cos., which opened the Mason a few years ago on Ada Street. That apartment building contains more than 260-units. The newest building is scheduled to open late next year on Ashland Avenue.

All of Marquette’s buildings are in the area of Union Park and the Ashland Avenue station. Marquette is using mostly new construction but is also making use of some small existing buildings in the neighborhood.

Each…

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Inside Chicago's New Optima Lakeview Apartment Building

As one of the newest mixed-use buildings to open in Lakeview East, Optima Lakeview offers a prime location and plenty of desirable features. The former site of a grocery store and parking lot has recently been transformed into retail space and nearly 200 apartment homes.

The rentals at Optima Lakeview range from one- to three-bedroom floorplans. Depending on the floorplan chosen, buyers may find such desirable features as kitchen islands with extended space for seating, plus flat panel cabinetry and upgraded countertops.

Many of the units are extremely open in their design, with walls of windows and even some private terraces with some of the apartments for enjoying indoor/outdoor living and entertaining space. The property additionally offers an indoor…

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Billionaire Exec Buys Another Neighboring Lakefront Lot in Winnetka

A billionaire private equity exec just purchased another lakefront lot in the Chicago area in a deal that could throw a wrench in plans for a public beach. The Winnetka Park District wants to create a 1,000-foot beach, but that’s contingent on property owner Justin Ishbia giving them a residential property he owns between two parks, in exchange for some of the parkland that sits closest to his own land.

Previously, Ishbia had requested some privacy between the public beach and the beach just below his home. Last spring some area residents opposed a deal to give Ishbia’s property that additional privacy.

Flashforward to this past June, and the exec paid $16 million for another acre of land and a 10,000 square foot home that sits next door to his existing…

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Fulton Market Building Owner Hopes to Cash-In While Area Construction Boom Rolls On

As developers and investors set their sights on Fulton Market, at least one building owner is hoping to cash-in. A single-story property at 941-945 W Lake Street just went on the market.

While there’s no official list price, some expect the building could get bids close to $15 million. The existing owner, also a real estate investor, paid just $2.3 million for the same property 10 years ago.

Of course, that was about six months before Google announced it was moving in. That announcement helped boost property values in the neighborhood to some of the highest in the city, as new trendy restaurants and hotels moved in.

The property is right at the heart of Fulton Market and is considered to be one of just a handful of remaining redevelopment sites. It is…

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Billionaire Ken Griffin Puts 4 Gold Coast Condos on the Market!

Four pricey Gold Coast condos are now up for sale, following the recent announcement that a billionaire financial chief is headed to Florida. Ken Griffin, of Citadel, recently announced plans to move his firm to Miami.

Since that time, he’s put four of his condo holdings on the market, all of which are individually priced upwards of $10 million. To put that in perspective, just two Downtown Chicago condos sold for upwards of $10 million last year, and Griffin has four up for sale this year.

The real estate includes an entire unfinished floor at No 9 Walton. Griffin purchased all four top floors of the building in 2017 for $58.5 million but never finished the space. As of now, just the lower-level unit belonging to Griffin is for sale.

Listed for…

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