Vacant Fulton Market building sells for $2.75 million ahead of mixed-use 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+ sq. ft. 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. Surrounded by some of the neighborhood's most popular restaurants, retailers and office developments, the location benefits from significant daily foot traffic and remains one of the district's most sought-after redevelopment corridors.

The sale reflects continued buyer interest in Fulton Market for mixed-use development.

“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.