Tishman Speyer’s Fulton Market property, already sizzling, will soon get steaks on plates.
The New York developer’s 13-story, 270,000 square foot office building at 320 North Sangamon Street will be home to an Italian steakhouse with an 8,200-square-foot main dining room in ground level retail space opened by DineAmic Hospitality, Crain’s reported. Michelin-starred “Top Chef” victor Michael Voltaggio and his brother Bryan, who has also been a contestant on the cooking show, will be the culinary heads of the restaurant, called Fioretta, or “little flower” in Italian.
The restaurant group’s commitment to the property, which was co-developed by Chicago’s Mark Goodman & Associates, adds another tenant to an already strong tenant roster.
The building filled out amid a pandemic that depleted office demand elsewhere in Chicago and in downtowns across the nation, hitting 87 percent leased after venture capital firm Valor Equity Partners this month said it would take 24,000 square feet, exiting the former John Hancock Center on the Mag Mile. Other firms that signed on during the health crisis include Hazel Technologies across 50,000 square feet as well as real estate tech company VTS, which leased 36,000.
Fulton Market was the only area in Chicago to experience positive office space absorption in 2021. Tishman and Goodman just scored a $26.1 million loan on the property from Wells Fargo, a sign of its strong performance and ability to carry more debt after obtaining an $81.4 million construction loan in 2019.
The restaurant will be the Voltaggios’ first in Chicago. Its will add to high-end steakhouse options in the West Loop, including the nearby Swift & Sons at 1000 West Fulton Market Street. More dining establishments have opened just north of the West Loop section of Randolph Street known as Restaurant Row as the Fulton Market district office scene exploded with new buildings on Fulton Market, Green and Sangamon streets.