Vacant Fulton Market Building Sells Ahead of Planned MXU Redevelopment
Why this matters
Industrial has moved into a normalization phase after the 2020-2023 frenzy. Vacancies are up modestly, sublease space remains a watch item in the big-box logistics segment, and rent growth has shifted from double-digit to mid-single-digit. The long-term tailwinds — nearshoring, e-commerce penetration, infill scarcity — remain intact. Chicago capital flow has been concentrated in industrial along the I-55 and I-80 corridors and in the most select downtown trophy office submarkets. Multifamily transaction volume has moved up in the Near North and West Loop. Institutional capital is calibrating between core income and value-add basis plays as the cycle matures.
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On the RET wire
- The eleventh Chicago story tracked on the wire in October 2026. All Chicago coverage →
Computed from Real Estate Trail’s own tracked coverage
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 t…
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