Murphy Development Group, LLC focuses on generating development opportunities in the multifamily, hospitality and office sectors across the country.

Through sound investment strategies and extensive due diligence, the dynamic development team at Murphy Asset Management (MAM) with support from the MB Real Estate (MBRE) platform assists with identifying, evaluating and executing the projects by combining sound financial modeling, economic analysis and entrepreneurial creativity. The Murphy Development Group and the MB Real Estate team have supported numerous developments owned by affiliates of MDG including: Lincoln Park 2550, Hyatt Chicago “The Loop,” the Chicago Motor Club redevelopment into a Hampton Hotel, and the Oriental Theater redevelopment.


  • Accounting/Control/Reporting
  • Assembly of Technical Team
  • Conceptual Schedule and Budget
  • Environmental & Site Evaluations
  • Feasibility & Economic Analysis
  • Financial Structuring & Options
  • Government Approval Coordination
  • Land Acquisition & Negotiations
  • Planning, Design & Development
  • Pro-forma Development
  • Value Engineering


Development Overview:

  • 257 key full-service Hyatt Centric Hotel, the first Hyatt Centric in the country
  • Upscale full-service restaurant (leased to Cochon Volant) and AIRE roof-top lounge
  • Fee simple interest in the heart of Chicago CBD & Financial District
  • Completed with Federal Historic Tax Credits
  • Total redevelopment completed in April 2015