Fulton Market’s Next Major Skyscraper Could Break Ground in 2027

INITIAL rendering of 725 W Randolph St by Roger Ferris + Partners

CHICAGO — Fulton Market’s skyline could be getting another major addition. The long-planned skyscraper at 725 W. Randolph Street is moving closer to reality after securing a major anchor tenant, giving the project new momentum after years of planning, redesigns, and market uncertainty.

The proposed tower, developed by Related Midwest and designed by Kohn Pedersen Fox, is expected to rise approximately 45 stories and bring nearly 1 million square feet of office space to one of Chicago’s most active commercial and residential districts.

A Major Office Tower at the Gateway to Fulton Market

Updated rendering of 725 W Randolph St by KPF

The project is planned for 725 W. Randolph Street, near N. Halsted Street, in a highly visible location at the eastern edge of Fulton Market.

The site is currently occupied by a mix of surface parking, temporary plaza space, alley space, and a drive-thru area. If the project moves forward, those uses would be cleared to make way for a large L-shaped office tower that spans nearly an entire city block.

At roughly 700 feet tall, the building would become one of the most prominent new towers in the West Loop and Fulton Market area.

Sidley Will Anchor the Tower

The biggest update is the anchor tenant.

Sidley is expected to occupy more than half of the building’s office space and relocate from its current home at 1 S. Dearborn Street when its lease expires in 2030.

That kind of commitment is significant because large office projects need major tenants before lenders and developers are willing to move forward. With an anchor tenant now attached, the development team can focus on financing, final approvals, and construction planning.

What the Building Could Include

The tower is expected to include approximately 968,000 square feet to 1 million square feet of space.

Plans call for a four-story podium with parking, commercial uses, and amenity space. Earlier plans included a large restaurant space, a two-story lifestyle gym, and a rooftop deck above the podium.

The office floors are expected to include private terraces at setbacks, indoor-outdoor work areas, and garden-like amenity spaces designed for a more modern office experience.

That matters because office buildings today are no longer competing only on location. They are competing on experience, wellness, outdoor space, hospitality, and the ability to bring employees back into the workplace.

Why This Matters for Fulton Market

Fulton Market has already become one of Chicago’s most important live-work-play neighborhoods.

Restaurants, boutique hotels, luxury apartments, condos, offices, and nightlife have turned the former meatpacking district into one of the city’s strongest growth areas. A major office tower at 725 W. Randolph would add another layer of daytime activity and could bring thousands of workers into the neighborhood once completed.

That activity can support nearby restaurants, coffee shops, fitness studios, retail, and entertainment venues, especially along Randolph Street, Fulton Street, Halsted Street, and the broader West Loop.

The Bigger Picture for Buyers

For buyers, this project is worth watching because major office commitments can reinforce neighborhood demand.

Fulton Market already has strong appeal for buyers who want walkability, restaurants, nightlife, luxury buildings, loft-style homes, and proximity to downtown. A new Class A office tower could strengthen that ecosystem by bringing more workers, more retail demand, and more long-term investment to the area.

For condo buyers and investors, the key takeaway is simple: Fulton Market is still growing, and major developers continue to see long-term value in the neighborhood.

Looking to Buy in Fulton Market or the West Loop?

Browse available condos, lofts, and luxury homes in Fulton Market, West Loop, River West, and nearby downtown Chicago neighborhoods, or connect with the Cory Tanzer Group at Option Premier for expert guidance on finding the right home near restaurants, offices, nightlife, transit, and major neighborhood development.

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Ranked among the top 1% of real estate teams in the Chicagoland market, Cory Tanzer and the Cory Tanzer Group are experts in helping buyers and sellers navigate today’s market across Downtown Chicago, the North Shore, and the Western Suburbs. Recognized for their neighborhood expertise in areas such as University Village, University Commons, South Loop, and Pilsen, the team helps clients stay one step ahead by understanding where the Chicago market is headed next.