Ryan Companies US, Inc., along with development partner IBT Group, Inc., have announced plans in a public filing today for the development of a 700,000 square foot mixed-use office and retail project at 1200 West Fulton Market in the Fulton Market District of Chicago. The project which is named Axis West at Fulton Market, will provide a dynamic and interactive mixed-use environment for Fulton Market as the district continues its growth toward Ogden Avenue.
Axis West will be comprised of over 600,000 square feet of first-class office space with floor plates ranging from 10,000 to 40,000 square feet. Axis West will include ground floor retail, over 300 indoor parking spaces, a 13,000 square foot plaza, and best-in-class amenities including flagship fitness center and multiple outdoor terraces. Office users will benefit from numerous activated tenant workspaces including tenant lounge and indoor/outdoor Wi-fi enabled terraces.
“Our entry into Fulton Market continues our successful growth in the City of Chicago. Axis West will serve as a resource for businesses and consumers, as well as for the neighborhood at large, we are very proud to be able to contribute to the continued growth of this vital part of the city.” Said Toby Veit, Vice President of Development, Ryan Companies US, Inc.
Gary Pachucki, Founder and President of IBT Group, LLC added “As we work through this process with the community and Planning Department, we anticipate the project will evolve. We are excited to continue our work with the city as we refine the design concept and work to seek their approval.”
The Axis West name was derived from the project’s location on the axis of two main Chicago thoroughfare, Fulton and Racine. The location allows tenants to be close to the City and the energy in Fulton Market, but with convenient access to transportation options including the expressways, Morgan “L” Station, Union Station and Ogilvie Station, as well as the proposed Ogden Metra station.
Ryan Companies and IBT Group are co-developing the project, Ryan Companies will be the general contractor, CRTKL is the architect and Newmark Knight Frank has been named the leasing brokerage partner.
Ground breaking on the project in scheduled for early fall, 2020.
About IBT Group, Inc.
The IBT GROUP was formed in 1999 and has operated in multiple markets across the country completing projects worth over $400,000,000 IBT has altered its to focus to urban projects in Chicago completing several high-profile retail projects on the west side and Evergreen Park and was one of the first to see the potential of the West Loop with the development of a Target on West Jackson Blvd.
The IBT GROUP works with multiple institutional investors including Black Rock irc/DRA Advisors as well as private investors.