July 31, 2019
Moody Bible Institute (MBI) has hired HFF, now part of JLL, to market a portion of the school’s downtown campus. The 10-acre swath could be redeveloped with up to five million square feet in a variety of uses, ranging from multifamily to tech-friendly office space.
Calling the MBI parcels a “generational large-scale urban infill development site,” a marketing flyer from HFF touts the property as the only remaining site offering significant scale in River North.
The flyer notes that the property sits at the confluence of “Chicago’s most popular and aspirational neighborhoods: River North and the Gold Coast,” and that it’s “ideally positioned in a walk-to everything location.”
Crain’s Chicago Business reported that pricing for the MBI parcels wasn’t clear. The school announced earlier this month that it would sell some of the non-core portions of its campus real estate “to help fund our 2030 growth plan.”
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