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Manufacturing Incubator mHub Poised to Relocate to Near West Side
Advanced manufacturing incubator mHub aims to move its operations to the industrial corridor west of the Fulton Market District, where it has reached a deal to buy the vacant 80,000-square-foot building at 240 N. Ashland Ave., for $342 million, Crain’s Chicago Business reported. The sale and the relocation from 965 W. Chicago Ave. in River West are contingent on mHub getting some taxpayer help to build out the new space.
MHub is slated to go before the city’s Community Development Commission to make the case for tax-increment financing money to subsidize its relocation and the build-out of its new space.
If the sale is completed, mHub would showcase the surging growth in property values on Chicago’s Near West Side over the past decade. It would also further establish the area west of Fulton Market as a hotbed of light industrial businesses, according to Crain’s.
Pictured: mHub’s current location at 965 W. Chicago.
- ◦Sale/Acquisition
- ◦Financing
