This development cycle is not done yet. Rental towers have represented the bulk of new high-rise construction throughout the Chicago downtown over the last couple of years, and we may have one more planned for the West Loop. According to Crain’s, a team of developers are looking to build a new 14-story tower at 419 S. Peoria Street, but it has still yet to be decided whether the 90 units will be rental or for-sale condos. The site is currently a surface parking lot for UIC. The development team is working with bKL Architecture, a firm that has worked on several of high-rises currently under construction throughout Chicago.
- Residential tower planned in West Loop [Crain’s]