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Chicago & Midwest  + Downtown  + Apartments  | 

Crescent Heights Scores Fulton Market Development Site for $35M

CBRE arranged the sale of a 1.7-acre site located at 420 N May St. in Chicago’s Fulton Market neighborhood. 420 May Acquisitions LLC sold the property to Crescent Heights for $34,50,000. CBRE’s Tom Svoboda represented the seller.

Crescent Heights has proposed a large multifamily/mixed-use development for the site. The Miami-based developer has been active in the Chicago market with multiple projects including the construction in 2019 of Nema Chicago, a 76-story, 800-unit skyscraper that is the tallest apartment building in the city, and the purchase of another West Loop development site at 640 W Washington in 2020.

“It’s tough to find 1.7 acres anywhere in downtown Chicago, let alone an area as active as Fulton Market,” said Svoboda. “The site provides the ability to scale vertically in a location with walkability to an abundance of new offices and all of Fulton Market’s amenities.”

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CBRE's Svoboda

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Development
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