Monday, April 18, 2022

Mark Goodman & Associates Closes on 400 North Elizabeth Street in Chicago’s Fulton Market and Plans New, 16-story, 503,000-square-foot lab and office Life Sciences Hub

 

Rendering of planned 16-story, 503,000-SF Life Sciences facility in Chicago's Fulton Market district

                       

CHICAGO, IL, April 18, 2022 — Chicago-based Mark Goodman & Associates, Inc. (MGA), a real estate firm with over 30 years of development, investment and construction management experience, today announced it has closed on the acquisition of an approximately 1.5-acre parcel of land at 400 N. Elizabeth St. in Chicago’s Fulton Market neighborhood, where it will begin construction on a 16-story life sciences facility later this year.


Mark A. Goodman


Designed by nationally recognized architecture firm Solomon Cordwell Buentz (SCB) to be a low embodied carbon building that is both LEED Gold and WELL certified, 400 N. Elizabeth St. will be the first purpose-built lab and research and development building in Chicago designed to specifically accommodate the rapidly growing life sciences and biotechnology industry.


Scott Brandwein




 

 




















The building will offer approximately 503,000 square feet of laboratory, office and research & development space suitable for a range of life sciences pursuits, including biotechnology, medical devices, pharmaceuticals, clean energy, food sciences, material sciences and nanotechnology.

 

“The life sciences market has never been stronger, and with the addition of this building, Chicago is quickly on track to emerge as one of the next centers of excellence in the field to attract highly sought-after investment and premier talent,” said MGA principal Mark Goodman.

 

 “Because the industry is experiencing record-breaking highs in funding and job growth, the demand for new construction life sciences lab and office space that is customized for the end-user is unparalleled.

 

"With 400 N. Elizabeth, Chicago will have one of the only new R & D/Lab buildings designed by and for scientists to create best-in-class innovation.”

 

Jay Longo
 

“While Chicago is attracting life sciences investment in many neighborhoods, Fulton Market is quickly becoming a de facto hub in the city, with additional supply of lab space being planned and delivered,” said Scott Brandwein, managing director of JLL.

 

“Drawing on its industrial roots, Fulton Market offers proximity to the medical district, major educational institutions, and some of the city’s marquee employers, along with Michelin-starred restaurants, luxury residential buildings and boutique hotels, making it a highly desirable urban location that appeals to the scientists and professionals that work for life sciences firms.

 

 "It has all the right elements for a company wanting a downtown location that will become only more attractive to employees over time.”

 

“Our design resulted in large floorplates for labs and high bay ground floor for specialty spaces, such as pilot labs, to uniquely position the building for established and emerging companies looking for flexible and highly sustainable lease spaces near the West Loop,” said Jay Longo, AIA, principal at SCB.

 

Construction is anticipated to take up to 20 months, with an expected completion date in 2024.

 

CONTACTS:

 

 Amanda Cienkus

 acienkus@taylorjohnson.com

 (312) 267-4524

 

Kim Manning

 kmanning@taylorjohnson.com

 (312) 267-4527

 

 

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