
Riverside Investment Plans West Loop Apartments
Riverside Investment & Development is joining the West Loop apartment development boom, Crain’s Chicago Business reported. Riverside will team with Chicago-based Blue Star Properties to co-develop a 14-story, 198-unit apartment building at 566 W. Van Buren St., according to a public notice from Ald. Brendan Reilly.
The project is slated for the northeast corner of Van Buren and Jefferson streets, which is currently home to a surface parking lot and a pair of two-story retail buildings. It will be located a block west of Riverside’s recently opened BMO Tower at 320 S. Canal St.
“Right now, the product of the moment is residential,” Riverside CEO John O’Donnell told Crain’s. Although he’s still in the process of obtaining construction financing for the $80-million to $90-million project, he intends to break ground late this year with a plan to complete it by early 2024, Crain’s reported.
Rendering courtesy of Antunovich Associates.
- ◦Development