Sterling Bay, Chicago’s premier real estate development firm, hosted a groundbreaking ceremony at 345 N Morgan this morning with 27th Ward Alderman Walter Burnett, Deputy Mayor Samir Mayekar and project partners including Skender and Eckenhoff Saunders Architects. This groundbreaking marks the start of construction on the 200,000-square-foot boutique office and retail building located on one of Fulton Market’s most dynamic blocks for tech, specialty retail and hospitality.
Acquired by Sterling Bay in 2014, 345 N Morgan is a speculative development that will offer future tenants open, customizable floor plates for maximum flexibility and collaboration in an unbeatable location. Designed by Eckenhoff Saunders Architects, the space features sleek, modern finishes, soaring ceilings, arched windows, and welded metal accents, drawing on the neighborhood’s industrial past. Located just steps from Google’s Midwest Headquarters, as well as the ACE Hotel and the CTA Morgan station, tenants will also have quick access to world-class dining and entertainment options, as well as on-site amenities such as private outdoor terraces, a 5K-square-foot roof deck with sweeping views, a conservatory bar & lounge with a double-sided fireplace, a full-service fitness center, a coworking library and several high-tech conference spaces to meet the needs of today’s virtual world.
In addition to offering tenants a completely customizable workplace experience, 345 N Morgan will also complete construction in just 13 months, significantly faster than comparable developments of a similar size, allowing future tenants to move into their new office space as early as September 2022.
Despite the pandemic, Fulton Market has remained a highly sought-after submarket for local, national, and even international office and retail leases, with Sterling Bay notably signing deals with Sloan Valve, Studio Three, Gabriel and RealGood Stuff Co. at its 333 N Green property over the last eighteen months.
As part of its commitment to expand opportunities for minority-owned firms, Sterling Bay is pleased to share that Skender has formed a joint venture partnership and JLL Construction, a local certified minority-owned business, in the development of this project. JLL Construction is headquartered on the west side of Chicago and has an extensive portfolio of projects in the Fulton Market area. As development progresses, 345 N Morgan will meet the city’s standards for M/WBE engagement at the 26/6 participation level.
