Chicago & Midwest + Downtown + Finance | May 25, 2021

MAB Aims to Cash Out on Fulton Market Parcels

Marc Bushala’s MAB Capital Management has hired the Chicago office of JLL to sell a pair of development sites along Morgan Street between Hubbard Street and Grand Avenue in the Fulton Market District, Crain’s Chicago Business reported.

MAB president A.G. Hollis didn’t provide an asking price for the vacant parcels at 450 and 464 N. Morgan St., which MAB ventures acquired in pieces between 2016 and 2019 for nearly $6.4 million. However, the sites, which total more than 26,000 square feet, could sell for nearly twice that amount based on the sums that investors have paid for other Fulton Market development sites.

MAB has already capitalized on investor appetite in post-COVID Fulton Market, selling a pair of properties at 400 and 401 N. Morgan St. for $32 million to New York-based Vista Property Group in March. The new listing is “a continuation of that strategy,” Hollis told Crain’s.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).

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