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450 North Morgan Street

Listing was updated at: 12/16/2018
450 North Morgan Street 450 North Morgan Street 450 North Morgan Street 450 North Morgan Street 450 North Morgan Street 450 North Morgan Street 450 North Morgan Street 450 North Morgan Street

Property Overview

Price/Rent PSF Inquire
Asset Type Land
Trade Type Sale
Acres Available 40,743.00
Date Available 12/16/2018
Additional URL Link
Space 1 Ground Floor type: retail
Space 2 Third Floor type: office
Space 3 Fourth Floor type: office
Space 4 Fifth Floor type: office
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Description

Listing Courtesy of SharpLaunch

Since purchasing the land less than two years ago, current ownership has created tremendous value through:

  • Demolition of the previously existing meat distribution building; 
  • Re-zoning of the site to B2-3; 
  • Permitting the site for a mixed-use 40,743 SF office and retail building. 
The site is shovel-ready for the existing permitted use through the 4th quarter of 2019 with the extension options that are available. Additionally, other potential uses may include residential, hospitality, parking garage and other options that can be obtained through approval of new permits. The site allows for up to 3.5 FAR.

To view the Offering Memorandum, please click on the Due Diligence button at the top of this page and electronically sign the CA.

If a modifiable version of the CA is needed, please click here to download it.


WEST LOOP MARKET

Located in the heart of the Fulton Market District in the West Loop sub-market, 450 North Morgan is blocks away from large, high-profile developments including the new 485,000 SF McDonald’s HQ and the 530,000 SF office building at 1000 West Fulton Avenue which now houses Google who occupies 360,000 SF. These two buildings are expected to employ approximately 4,500 people.

The West Loop is among the most rapidly developing neighborhoods in the country and the subject property is ideally located to take advantage of this dynamic market immediately. It is also poised to take advantage of the influx of tech-related companies that are seeking to tap into a broader and younger city labor pool.

The West Loop is Chicago’s #1 destination for the technology industry with more than 37% of its largest technology firms either downtown or within the West Loop submarket including Motorola Solutions, Enova, HERE Technologies, SAP, Gogo, Peapod and many others.

Location

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