Fulton Market Chicago’s Next Hot Neighborhood?

Chicago is home to many bustling and diverse neighborhoods. There are communities that cater to young singles craving nightlife and entertainment. There are quiet residential streets perfect for families. And the city’s downtown neighborhoods attract a mix of Millennials, empty nesters and everyone in between.

 

So it’s no surprise to me when a formerly sleepy Chicago neighborhood suddenly catches fire. It’s one of the reasons why Chicago is such a strong housing market: It is filled with neighborhoods in which people want to live.

 

The latest hot neighborhood? According to a recent story in Crain’s Chicago Business, it’s the Fulton Market neighborhood in the city’s West Loop area.

 

There are still vacant storefronts in this neighborhood, of course. But that is changing quickly. As the Crain’s story says, Google already has its Midwest headquarters here, and it is bringing in a steady stream of new workers. McDonald’s is building its global headquarters near this neighborhood, too, something that will also increase activity in the area.

 

But what is providing a boost now? Restaurants. Fulton Market is home to a growing mix of eclectic eateries. And this is attracting the attention of other retailers. As the Crain’s story says, developer R2 is redeveloping a former fish market here into a four-story, 25,000-square-foot retail center. This center should be ready for tenants early in 2018, and the developer is talking to a wide mix of retailers and restaurants to fill the space.

 

The Crain’s story quotes a developer who says that diverse tenants — a possible daycare center in the bottom floor of condo building here, a health club chain in another building — are looking at Fulton Market. This has corresponded to a steady rise in rents in this area.

 

Of course, the Fulton Market neighborhood isn’t the only one in Chicago that is in the middle of a growth spurt. If you’re searching for the ideal Chicago community in which to buy, you have plenty of options. Make sure to consider a wide range of city neighborhoods before selecting the ones that most interest you.