Meta opens Fulton Market office after more than two years of pandemic delays. Is it already obsolete? – Chicago Tribune*

The trend toward remote work has not been a friend to the Chicago office market, with companies continuing to shed space as long-term leases come up for renewal. For the first quarter, the central business district had an 18.9% vacancy rate, while Chicago metro was at 21.3%, both records, according to a Newmark report.
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Peter Wilson
3 years ago

Well who doesn’t love the Newness vibe in FM, love all the new buildings and restaurants, very cool industrial chic architecture – although to me just seems Forced and unsustainable, buildings and money filling in like Tetris. ‘Having said that’ what do I know. I heard someone comment on NFTs and crypto, ‘my opinion doesn’t matter, a ton of people buy for reasons that buck traditional thinking, they just do’ so same with Fulton, we’ll see. The energy and marketing may shift North to Lincoln Yards. Please I just hope the mega development by Soldier Field falls through, that would… Read more »

debtsor
3 years ago

Fulton Market is way overhyped and will crash as spectacularly as it rose.

nixit
3 years ago
Reply to  debtsor

If the corporate market is not expanding, then all Fulton Market is doing is poaching tenants from other Loop buildings and shifting the business district further west without expanding it.

I understand West Loop Gate building up with proximity to Ogilvie and Union, but Fulton Market forces those same commuters to hike across the expressway. Unless Metra builds a train station at Ogden/Ashland, I can’t see their current level of expansion continuing.

debtsor
3 years ago
Reply to  nixit

https://chicago.suntimes.com/2022/3/14/22971472/lasalle-street-thompson-center-redevelopment-reuse

LaSalle St. is 20% vacant. Fulton market is totally poaching tenants. The loop has a reputation of being too expensive.

Ex Illini
3 years ago

Yes.

Lion's Choice
3 years ago

Remote Work Revolution Means Workers Won’t Be Coming Back To Downtown Chicago Offices

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