Chicago-based Mark Goodman & Associates, Inc. (MGA) says it has acquired an approximately 1.5-acre parcel of land at 400 N. Elizabeth St. in the Fulton Market neighborhood, where it will begin construction on a 16-story life sciences building later this year.

Solomon Cordwell Buenz (SCB) has designed the structure to be a low embodied carbon building that is both LEED Gold and WELL certified, the developer says in an April 18 statement.

The building “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,” the news release says.

The building will offer approximately 503,000 sq. ft. 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. There will also be 123 underground tenant parking spaces, a tenant fitness center and a ground-level neighborhood café. Plans for the building’s immediate area also call for enhanced streetscaping and lighting, plus a pedestrian throughway to connect Elizabeth and Kinzie streets to Ogden Avenue and the center of Fulton Market.

“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.

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