Another High-Rise Proposed For Chicago's West Loop

Posted by Helaine Cohen on Friday, July 22nd, 2016 at 7:48am.

West Loop High-Rise ProposedAnother West Loop development could be in the works—this time a 90-unit residential building located along the Eisenhower Expressway. According to Crain’s, the plans call for a new 14-story tower to be built at 419 S. Peoria Street, which will be designed by Brininstool & Lynch.

Right now, a vacant parking lot occupies the site at 419 S. Peoria. Outside of the West Loop being a red hot location right now for just about anything, 419 S. Peoria sits just steps from the UIC/Halsted CTA Blue Line Stop, which to frequent riders certainly makes it just a bit more appealing.

The development group is already seeking a zoning change for the site, which the city of Chicago must approve before construction can begin. But given the major influx of commercial space having already moved to the area or currently in the works, the zoning change should only be a minor hurdle to clear. As of now, it’s unclear whether the units will be rentals or condos.

Stay tuned.

Helaine Cohen, Chicago Real Estate Broker

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