South Loop Warehouse Going Residential

Posted by Helaine Cohen on Tuesday, August 30th, 2016 at 8:53am.

South Loop New ConstructionAfter two years of being marketed as lab and office space a South Loop warehouse building is now going residential. The six-story building, located on the southeast corner of East 21st Street and Wabash Avenue, hasn’t had a tenant since L’Oreal vacated in 2014.

New plans aim at giving the 19th century building a new shot as a residential building with retail located on its ground floor.  The project at 2101 S. Wabash is set to include a total of 43 residential units, bringing with it new options in living to the South Loop.

According to recent reports the project seeks a special use permit in order to decrease the number of off-street parking spaces that Chicago code currently requires for residential structures. To get around the need for additional parking the plan would instead focus on directing people to the nearby Green and Red Line stations. 

The entire surrounding area is in the middle of revitalization, developing into the McCormick Square entertainment district. The area is set to include a large event center, restaurants and new hotels.

Photo: Google Street View

Helaine Cohen, Chicago Real Estate Broker

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