Mark Goodman & Associates Inc. can now commence construction of a 16-story Fulton Life Sciences Building in the Fulton Market neighborhood, after receiving the final approval from the Chicago City Council. The Laboratory facility will be developed at the site of the former Lakeshore Beverage distributorship, on the corner of Elizabeth and Kinzie streets in Chicago. The Demolition period of this site has been scheduled for sometime between May and July 2022, and the developers expect construction to commence during that same time frame.
Based on the design plans by Solomon Cordwell Buenz, the Fulton Life Sciences Building will rise to a height of 270 feet, with a podium designed to match the scale of the surrounding buildings on Elizabeth Street. The higher floors of the facility will be built to showcase two distinct sections of the building. According to the design, the facade towards the south will be draped with a glass curtain, while the facade facing the North will have a blended brick design, which will aid in reducing noise from adjacent rail lines.
Construction costs of the Fulton Life Sciences Building is estimated at $150 million and the design also features a ground-level café and a fitness center. A pedestrian walkway will also be built along the vacated blocks of Kinzie Street from Elizabeth Street down to Ogden Avenue, the West Loop and to a proposed Metra station; including enhanced street landscaping and lighting as part of the outdoor improvements.
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Fulton Life Sciences Building project to create 1,350 permanent jobs and 2,400 temporary construction jobs
The Fulton Life Sciences Building project covers the development of 13,422 square feet of open space, 210 parking spaces with 123 underground parking spaces for tenants, and 40 bicycle parking spaces. This facility, upon completion will house a life science Biotechnology laboratory and some commercial spaces as well. About 2,400 temporary construction jobs will be generated from this development and it will also result in the creation of upto 1,350 new permanent jobs. Developers expect the project to be completed in roughly 24 months after the commencement date.
According to Mark Goodman, the President of Mark Goodman & Associates, Inc., the construction of the Fulton Life Sciences Building will provide high-tech lab space to accommodate growing technical workforce, skilled scientists, and top-notch research hospitals and universities in the Chicago area, which already has the foundation to attract life sciences investments. Goodman also said, “We are excited to work closely with Alderperson Burnett, Commissioner Cox and other Fulton Market community stakeholders to deliver a high-quality building designed from the ground up to specifically meet the sophisticated and complex needs of this burgeoning industry.”
