Morgan Manufacturing to open $19 Million Adaptive Re-Use Project in Chicago’s new Fulton Market Innovation District
- Aug 29, 2014
Morgan MFG, a redevelopment project comprising six interconnected buildings will open in Fulton Market’s new Innovation District in September. According to a news release, the $19 million adaptive re-use project is located in a former manufacturing complex that pre-dates the Chicago Fire of 1871. Funding for the initiative was provided fully by MAB Capital Management LLC.
The Morgan MFG project is located at 401 N. Morgan Street, the former 88,000-square-foot home of Salisbury by Honeywell. The property is situated in the city’s 217-acre Fulton Market Innovation District, approved in July by the Chicago Plan Commission. Morgan Manufacturing’s project will comprise a 32,000-square-foot Innovation Lab, 25,000 square feet of office space, a restaurant called The Brass Monkey, a café, craft distillery, and tenant amenities including a fitness center, outdoor dog run and open-air rooftop terrace. Additionally, the West Loop property will feature a renewable energy system which is expected to provide more than 10 percent of the structure’s electrical needs.
“I am thrilled to have a small part in the ongoing evolution of the Fulton Market are from a meat-packing district to Chicago’s hub of innovation,” says Marc Bushala, MAB Capital Management CEO. “My goal for Morgan Manufacturing is to be a resource center devoted to fostering the collaborations that lead to successful innovation.”
The Morgan MFG will provide office/tech space for businesses and non-profit organizations, and will be the home of The Innovators Connection, a program launched in 2013 that is meant to connect large corporations with innovative Chicago-based companies. Morgan MFG will also partner with organizations such as The Future Founders Foundation, the Illinois Technology Association, Rush Hospital, Evanston Youth Center, and many others.
“Big and small businesses have the potential to grow even faster through cooperation and interaction,” Bushala says. “The Innovators Connection fosters this interaction, helping to create jobs and economic opportunity for our city and its residents.”
According to a news release, Morgan Manufacturing has leased 6,000 square feet of office space to Sweden-based digital company Nansen, and is in the process of signing another two leases for 20,000 square feet of space.
Renderings courtesy of Morgan Manufacturing