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Fulton St. Cos. Pivots from West Loop Condos to Bathhouse Concept
Fulton Street Companies (FSC) has signed Bathhouse, a New York City spa company, to a long-term, build-to-suit lease for a 40,000-square-foot building at 1010 W. Madison Street in Chicago. The deal marks a change in plans from FSC’s original intent to build a 10-story luxury condominium building after acquiring the 17,000-square-foot parking lot site in 2020.
Now, revised plans include two levels of amenities as well as a rooftop pool and restaurant, with a concrete and glass design reminiscent of old-world bathhouses. “Bathhouse is a real industry disruptor,” said FSC’s CEO Alex Najem. “For consumers looking for the highest quality functional bodywork as opposed to the ‘luxury spa’ offering, this will be the place to be.”
Bathhouse’s services focus on highly functional modalities, incorporating ancient techniques with contemporary recovery practices in a modern socially engaging environment. In addition to 1010 W. Madison, FSC has a flurry of Chicago projects underway.
