Marc Bortz Acquires Development Site At 350 North Morgan Street From Andy Gloor For $18M

The development site located at 350 North Morgan Street in Chicago was sold for $18,000,000. The property is approved for the construction of a 39-story apartment tower, offering potential opportunities for developers in the area.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $18,000,000
• Buyer: Marc Bortz
• Seller: Andy Gloor - Sterling Bay
• Market: Chicago

Andy Gloor of Sterling Bay represented the seller in this transaction, which is part of a broader strategy to divest from development sites due to financial pressures and a shift away from delayed projects like Lincoln Yards.