CBRE Brokers $34.5M Sale of Multifamily Development Site in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — CBRE has brokered the sale of a 1.7-acre site located at 420 N. May St. in Chicago’s Fulton Market neighborhood for $34.5 million. Tom Svoboda of CBRE represented the seller, an entity doing business as 420 May Acquisitions LLC. The buyer, Crescent Heights, has proposed a large multifamily project for the site. The Miami-based developer has been active in the Chicago market with multiple projects. In 2019, the firm completed construction of Nema Chicago, a 76-story, 800-unit skyscraper that is the tallest apartment building in the city.

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