CBRE has 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 in a transaction that closed February 27, 2023.
CBRE’s Tom Svoboda represented the seller, 420 May Acquisitions LLC, in the transaction.
The buyer, 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, as well as the purchase of another West Loop development site at 640 W. Washington in 2020.
