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) assists with identifying, evaluating and executing the projects by combining sound financial modeling, economic analysis and entrepreneurial creativity. The Murphy Development Group team has 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


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Development Overview:

Located at 1326 South Michigan, The Paragon offers easy access to everything that makes every day excellent. This 47-story contemporary building includes floor plans for studio, one-, two-, and three-bedroom apartments.

500 luxury apartments that include:

  • Co-working space with library
  • Lounges
  • 47th floor entertainment room
  • Outdoor deck with pool
  • Cabanas
  • Grill stations
  • Dog park
  • 47th floor lake view fitness center
  • Spa with sauna, steam and whirlpool