Chicago Real Estate Blog

Developers have their eye on sites in Chinatown and Pilsen that could mean bringing new life to the area. In one case, a developer aims to turn a vacant old warehouse into a new 200-room hotel and commercial space at the corner of Grove Street and Cermak Road. 

Dubbed Hoyt Square, that plan also involves constructing a nearby parking lot and riverwalk. The old building has stood mostly vacant for about ten years, with past proposals and concepts for the site never taking off. Currently only two hotels exist in Chinatown.

Just a couple of blocks away, yet another plan involves constructing a complex of six buildings in East Pilsen. The opportunity includes using mostly vacant land in the area, and transforming it into five buildings filled with more than 200 residential units. 

It also involves creating a large retail complex in Pilsen. Together, it’s expected the new projects could help transform this mostly industrial area along the river.