mHUB Negotiates Acquisition of Properties For $1.3B Advanced Manufacturing Campus

• mHUB is planning a 72-acre advanced manufacturing campus called M+ on Chicago's Near West Side, a footprint larger than The 78 development.
• The nonprofit is negotiating to acquire multiple properties, including a full city block south of its headquarters at 240 N. Ashland Ave. and a neighboring building at 1640 W. Walnut St.
• The proposed campus could attract $1.3 billion in public and private investment, create or retain 8,500 jobs, and begin with an estimated $250 million first phase.

What the Expansion Includes

Advanced manufacturing incubator mHUB is taking the first steps toward creating M+, a 72-acre innovation district that would transform much of Chicago's Kinzie Industrial Corridor into a hub for advanced manufacturing, sustainable technology, research, and workforce development. The nonprofit is in advanced negotiations to acquire a full city block immediately south of its headquarters at 240 N. Ashland Ave., along with the neighboring industrial property at 1640 W. Walnut St. If completed, the acquisitions would form the foundation of a district stretching west toward Damen Avenue between Lake Street and Kinzie Street, just north of the emerging $7 billion 1901 Project surrounding the United Center and only a few blocks from Fulton Market. The planned district would have a larger footprint than The 78 and build on mHUB's existing facility, which relocated to the Near West Side in 2023.

What M+ Is Designed to Accomplish

According to mHUB's latest annual report, M+ is envisioned as an ecosystem where startups, manufacturers, researchers, and workforce training organizations can operate together in purpose-built industrial space designed to accelerate advanced manufacturing and sustainable technology development. A conceptual plan shows a mix of newly constructed and repositioned industrial buildings connecting mHUB's headquarters with the Industrial Council of Nearwest Chicago, creating a larger innovation corridor focused on modern manufacturing. The nonprofit estimates the completed campus could attract approximately $1.3 billion in public and private investment while creating or retaining 8,500 permanent jobs. The organization also posted a job listing seeking a managing partner for the M+ District Development Fund I, an investment vehicle supporting an estimated $250 million Phase One development.

What Public Funding Could Support

The project remains in the early planning stages, but mHUB has already received grants and pre-development support from organizations including the Pritzker Traubert Foundation, Builders Vision, the Blackhawks Foundation, Good Chaos, and the Richard H. Driehaus Foundation. In its annual report, mHUB described the vision behind the district.

"Their investment will lay the groundwork for a new model of place-based economic development that combines clean energy infrastructure, modern industrial space and a thriving ecosystem of hardtech companies, making Chicago a national blueprint for building a sustainable industrial future."

The organization is also seeking public assistance to move the project forward. According to Ald. Walter "Red" Burnett, mHUB has submitted its plans to the City of Chicago Department of Planning and Development and is requesting city support for infrastructure improvements.

Burnett said any assistance would primarily focus on upgrading aging industrial buildings within the district.

"The original purpose of the (Kinzie Industrial Corridor TIF District) was to support a dilapidated industrial district... you see a lot of buildings that are old and need to be repurposed."

A Department of Planning and Development spokesperson confirmed the city is reviewing an application for a Community Development Grant-L, while reports indicate mHUB is seeking approximately $50 million for the project's initial phase.

What the Development Means for Chicago

Illinois has made advanced manufacturing a key component of its economic development strategy, and M+ could become one of the state's largest investments in industrial innovation. Gov. J.B. Pritzker's administration previously provided $9.6 million to help finance mHUB's acquisition of its current headquarters and has reappropriated an additional $15.43 million grant for future capital improvements. The Illinois Department of Commerce and Economic Opportunity is also supporting the buildout of specialized research laboratories for deep technology and quantum research at the existing facility. The proposed expansion is also located within a federally designated Opportunity Zone, providing another potential source of private investment. If completed, M+ would reinforce the Kinzie Industrial Corridor's role as a manufacturing district while modernizing aging industrial properties and expanding Chicago's growing ecosystem for advanced manufacturing and clean technology companies.