There are plenty of beautiful Chicago condos for sale in existing buildings that have plenty of history, but not all of these residential units were always used for living.
A recent piece from the Pittsburgh Post-Gazette recently highlighted a cluster of warehouses in Chicago’s South Water Market, which were turned into condos much to the delight of interested condo buyers across the city.
The news source stated that for 78 years, the six terra cotta warehouses in Chicago’s South Water Market were used as fruit and vegetable stands for the region’s restaurants and eateries but when that market was to the Chicago International Produce Market more than 10 years ago, the empty warehouses were ripe for development.
That’s when Enterprise Cos., a local developer, stepped in: "It's right in our wheelhouse,” Ron Shipka Sr., partner at Enterprise Cos., told the news source. “That's exactly what we did for a long period of time - renovate and recycle different types of products into residential housing."
Warehouse in Chicago Converted to Luxury Condominiums
Now, the warehouses are home to University Commons, which holds 917 units that come in a variety of one to three bedroom condos, the news source stated.
The condos did not spring up overnight, the news source notes, as converting the warehouses into not only livable, but attractive residences, took between $150 million and $200 million and was completed phases with the first lasting between 2004 and 2007.
"It was a wonderful, wonderful opportunity to give a little back to the city and save something that every other developer that bid on this project was going to demolish and build townhouses on,” Shipka added.
Contact a Chicago Condominium Expert
If you’d like to learn more about the beautiful Chicago condos for sale, many of which are housed in historic buildings representing some of the city’s most notable architecture, then contact me today at 312-953-0961. I am a real estate professional serving the greater Chicago area and would love to show you around the astonishing condos we have currently listed for sale.