Chicago’s Fulton Market Neighborhood Busier Than Ever
Chicago has stayed strong in recent years in maintaining its top spot for investment. Last year alone, Chicago broke its previous record for attracting and closing many corporate relocations as well as expansions.
This means that Chicago holds its spot as the nation’s number one metropolitan area for investment for the tenth year in a row. A more recent development in Chicago growth is the boom in one particular area/neighborhood for companies and businesses: Fulton Market.
Fulton Market hosts some of the city’s best and biggest company headquarters. In addition to making a splash for Chicago companies, Fulton Market is also bringing in companies from all over the country.
Why Are So Many Tech Companies Calling Fulton Market Chicago Home?
Fulton Market is a prime destination for companies and businesses that want to be located in the Midwest, in Illinois, and in Chicago. We’ve seen a major surge in tech companies that are making Fulton Market the location for their business. Here are some of the reasons why so many tech companies are calling Fulton Market Chicago home:
Availability – Until recently, much of the Fulton Market area was undeveloped. This gave businesses, especially tech companies, a great opportunity to get a lot of space for a great value. Because of this, lots of tech companies now call Fulton Market Chicago their home.
Affordability – Compared to some other U.S. cities and even neighborhoods in Chicago, the Fulton Market neighborhood is a stand-out option for tech companies because of its affordability. Fulton Market boasts affordable real estate prices with expansive space for companies of all sizes to take advantage of.
Economic Growth – Fulton Market, and the entire city of Chicago, is a great destination for tech companies because of the economic growth and opportunities. Chicago has had exceptional fiscal health in recent years, which has allowed the city to grow its economy, increase employment, and improve several sectors.
Location (In The U.S.) – Chicago is also a great destination for companies to have their headquarters in because it is centrally located. Whichever coast you’re coming from or going to, Chicago makes it easy to get there quickly, efficiently, and affordably. It’s also home to one of the best international airports.
Location (In Chicago) – Chicago’s Fulton Market neighborhood is busier than ever before for companies and businesses because of its great location within the city. It’s close by the Loop without the steep price tag, which is a huge win. Businesses are able to get more space for their money in Fulton Market compared to the Loop.
Because of all these reasons, Chicago’s Fulton Market neighborhood is currently busier than ever, especially for tech companies. Several tech companies, including tech giants, have Fulton Market host their company headquarters.
Why Did Fulton Market Expand So Quickly?
Fulton Market is one of the most bustling areas that Chicago has seen in quite a while. This particular neighborhood expanded and grew exponentially, and it’s continuing to see growth today.
One of the main areas of growth and expansion is in the tech industry where companies are locating or relocating their businesses’ headquarters to Fulton Market. Google made a big impact in this movement and shift, as it paved the way for many other tech companies to follow suit and select Fulton Market and Chicago for their business.
Google made a significant impact in the demand for the Fulton Market area by creating a headquarters/office location there back in 2015. After several years of being located in Fulton Market, the tech giant actually doubled the size of their space, making their footprint in the area that much bigger.
Once Google planted its roots in Fulton Market, other companies were eager to take advantage of this opportunity as well. Because of this, it got a bit competitive and demand propelled. However, Fulton Market still stands out as an exceptional place for businesses in Illinois and Chicago.
This is one of the main reasons why Chicago’s Fulton Market neighborhood is busier than ever for tech companies; however, the growth and expansion is not just limited to these types of businesses. Businesses in various industries have seen a boom, which we’ll explain more below.
Before Fulton Market became a trendy spot for businesses and residences, it was actually an integral part of Chicago’s meatpacking industry. Because this area was partially designated for meat packing, it wasn’t seen as particularly desirable for much else, until recently.
In the 80’s and 90’s, Fulton Market saw in influx of other types of businesses to this neighborhood, especially restaurants and companies relocating from the Loop. While this growth began quite a while ago, it is just now picking up speed in the past ten years or so.
What Types Of Properties Are In The Fulton Market Neighborhood In Chicago?
Chicago’s Fulton Market neighborhood is busier than ever, and it’s not going to slow down soon. While tech companies and other company headquarters are one of the main property attractions that Fulton Market offers, the list does not stop here. Below are some of the different types of buildings and properties that you can find in Chicago’s Fulton Market:
Company Headquarters – Fulton Market is arguably the number one destination for a company headquarters, especially in the tech industry and other similar industries. This area is the perfect place for companies to set up their headquarters, whether that means relocating, expanding, or starting a new business.
Office Buildings – In addition to company headquarters, smaller scale businesses and organizations also have office buildings in the Fulton Market neighborhood as well. Fulton Market provides a great backdrop for office buildings.
Restaurants – If you want to go to some of the best and trendiest restaurants in all of Chicago, they’re all in Fulton Market. Fulton Market quickly became a hot spot for new and exciting restaurants with a unique neighborhood and atmosphere, unlike any other area in the city.
Shops/Stores – Fulton Market is also home to several shops, stores, and retailers. Whether you’re looking to open a store, shop around, or anything else, the Fulton Market neighborhood is a great destination in Chicago because of its promising economic growth.
Residences – Another one of the main reasons why Chicago’s Fulton Market neighborhood is busier than ever is because a lot of people want to live there. In Fulton Market, you can find high-rise apartment buildings, industrial-style lofts, condominiums, and more.
Hotels/Accommodations – Because Fulton Market is a cool and trendy neighborhood to watch, there are also several hotels and other similar offerings for accommodations/lodging. You can find excellent hotels and places to stay in Fulton Market.
Industrial Buildings – Before Fulton Market expanded and grew to what it is today, it was mainly an industrial area. While the space is highly developed currently, there are still a significant amount of industrial buildings and spaces.
About Chicago Luxury Realty – Experts In Fulton Market Real Estate
If you would like to learn more about why Chicago’s Fulton Market neighborhood is busier than ever for both residences and businesses, Chicago Luxury Realty can help. We know the ins and outs of all of Chicago’s neighborhoods, and we’re happy to lend this expertise to help our clients make the best choices when it comes to real estate.
Chicago Luxury Realty is one of the best real estate agencies in Chicago and we specialize in high-end, luxury properties. We can help with purchasing and leasing for residential and commercial properties. Contact Us Here to learn more!