JLL Arranges Financing for $233M Fulton Market Office Development

JLL arranged $233 million in financing for the development of 919 on Fulton, a 373,000-square-foot creative office development in the Fulton Market neighborhood of Chicago, Illinois.

JLL worked on behalf of the borrower, Fulton Street Companies and JDL Development, to secure the construction financing through Bank OZK and Manulife Investment Management. The JLL team representing the borrower was led by Senior Managing Director Keith Largay, Director Philip Galligan and Associate Tara Hagerty.

919 on Fulton will feature 350,000 square feet of trophy office and 23,000 square feet of high-street retail. According to JLL’s Q2 Chicago Office Insights, Fulton Market is home to approximately seven million square feet of office inventory and leads the city in absorption, particularly in the Class A subtype. The project will be the only office development in Chicago beginning construction in 2023 and is poised to capture significant tenant demand.