Fulton District Parcel Comes to Market
CHICAGO, IL (August 10, 2018) – NAI Hiffman is marketing a development site at 450 N. Morgan St. on the north side of the Fulton Market District. The current owner of the site, MAB Capital Management, had planned a five-story office property on the site.
“This land parcel and development provides a unique, shovel-ready development opportunity in a dynamic area of Chicago’s expanding business district,” said NAI Hiffman EVP Lawrence Much. “MAB Capital Management has advanced all aspects of the site for development, and has also developed several mixed-use projects in the immediate vicinity which have contributed to the vitality of the West Loop.”
The 13,703-square-foot parcel is being offered without an asking price on an all-cash basis. NAI Hiffman said MAB created value by demolishing the previously existing building, rezoning the site and securing permitting for a mixed-use, 55,000-square-foot office and retail asset with indoor parking.
About NAI Hiffman
Comprised of more than 160 real estate professionals, NAI Hiffman provides leasing, management, investment sales and capital markets representation for owners and occupiers of commercial real estate in the Chicago metro market. It currently leases and manages an 80+ million SF portfolio of over 700 commercial properties throughout metropolitan Chicago, Northwest Indiana and Southeast Wisconsin. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout the world, with 7,000+ local market professionals, handling over $20 billion in transaction value and managing 425+ million SF of property. For more information, please visit www.naihiffman.com.
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