Fulton Market builder drops $11 million on another development site

Photo by CoStar Group

By: Alby Gallun | 8/21/19 | Crain's Chicago Business

Jeff Shapack, one of the busiest developers in the Fulton Market District, has pounced on another property in the trendy West Loop neighborhood, a possible site for a new office building. A Shapack venture has paid $11.3 million for a parcel at 1152 W. Carroll Ave., three blocks west of Google’s Midwest headquarters, according to real estate data provider CoStar Group. Shapack, founder and CEO of Shapack Partners, declined to comment, so it’s not clear what he plans to build there. Fulton Market has been a mother lode for developers like Shapack, who have been buying up low-rise industrial buildings there over the past several years and replacing them with fancy office, apartment and hotel projects. Read More....