Vacant Fulton Market Building Sells Ahead of Planned MXU Redevelopment
CBRE represented the seller in the $2.75 million sale of 167 N. Morgan St., a vacant three-story industrial building in Chicago’s Fulton Market neighborhood.
The buyer, Hubbard Street Group, plans to redevelop the property into a mixed-use building with 20 apartments above approximately 3,300 square feet of ground-floor retail. The property sits in the heart of Fulton Market on Morgan Street between Randolph and Lake streets, just steps from the Morgan CTA station.
“Fulton Market is still one of the most dynamic neighborhoods in Chicago, and this site sits right in the middle of the action. Morgan Street continues to benefit from exceptional foot traffic, strong retail demand and a steady wave of new residential and office investment, making it an ideal location for a project like this,” said Tom Svoboda, senior vice president, CBRE. Svoboda represented the seller alongside Phil Golding of Savills.
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout