construction making a comeback in Chicago, a new project emerging in the far
West Loop could extend the boundary of the popular neighborhood. This project is taking place in the near west
side, 3 blocks east of the United Center, and will be a 4 story 52 unit
is being fueled by Michigan Avenue Real Estate Group and none other than
partner, Jerry Reinsdorf, owner of the Chicago Bulls and Chicago White Sox, and
co-owner of the United Center. This
building is hoping to attract renters that work in the medical district, those
looking for a short commute into the loop or into the west loop. Principle Richard
Sciortino, of Brinshore Devlopment LLC, says, “There's
definitely plenty of demand to serve that number of units.”
There are signs of more development in the
area, for example a Pete’s Fresh Market is under construction and Alderman
Walter Burnett said the neighborhood was supportive of the new project due to
the lot being empty since 2011.
David Ruttenberg, principle at Marc Realty
Residential LLC voiced a few concerns of his own to ChicagoRealEstateDaily.com. The rental rates are about 10% lower than
those of the west loop proper, especially for building west of Ashland. “Everyone knows Ashland is the cutoff of the
West Loop,” he said. “Will it ever get to Damen? That is the question.”
Time will tell if this project at 1615 W.
Warren Blvd will be the one to break the mold and be a catalyst to more
development on the near west side.