A 75,000 square foot loft-style office building has been put up for sale in Fulton Market, which could result in the area’s next major re-development project. Located at 400 N. May Street and occupying an entire block at May Street and Kinzie, the potential is certainly there as on-going commercial and residential development continues to transform this part of the west side into a bustling downtown neighborhood.
According to a recent report from Crain’s, 400 N. May Street is currently 88% leased and potential investors could simply acquire the building as an investment property that’s already generating income. But maximizing the site’s income potential with higher density will likely be the eventual plan for whoever ends up buying the property.
As of now, 400 N. May is listed at $17.5 million, and because of its close proximity to the new Google building, the Lake and Morgan CTA station, and countless restaurants and bars all throughout Fulton Market and the West Loop, it’s location is certainly prime to say the least.