S
ulo Development is planning to introduce a new condo complex in the heart of Chicago's Fulton Market District, which will feature three towers with a total of 243 units. The project is being proposed by a Chicago-based development firm called Sulo Development. The firm is looking to purchase a vacant lot at 1325 West Fulton Street from Sterling Bay, a company owned by Andy Gloor. The three-tower complex will include a mix of residential units and ground-floor retail space. If approved, this project will be the largest condominium development ever proposed for Fulton Market, a neighborhood known for its rental apartments rather than for-sale residences.

    The tallest tower will stand at 538 feet and will be located at the southeast corner of Fulton and Ada streets, featuring 106 units. The eastern portion of the site will host a 438-foot tower with 83 units, while a mid-block, 301-foot tower will house 54 units. The acquisition of this property reflects Sulo's confidence in the long-term appeal of the district. The vacant land has been unused since Sterling Bay purchased it in 2017 as part of a broader portfolio of Fulton Market properties.

    Sulo Development has already made a name for itself in the city with projects like Hayden West Loop, a 28-unit condo building that was pre-sold before its completion in 2019. More recently, the firm's Embry condo building in the West Loop sold 80 percent of its 58 units before its opening earlier this year. The firm is confident that the demand for luxury condos will extend into Fulton Market.

    Sterling Bay has sold off several development sites in Fulton Market recently, including a 33,700-square-foot parcel at 1200 West Carroll Avenue, a 370 North Carpenter Street site spanning 34,500 square feet, and a 48,000-square-foot site at 345 North Aberdeen Street. The City Council's approval is required for the project.