The developers have now begun seeking tenants to lease the 120,000-square-foot former Chicago Tribune distribution center. New tenants would most likely use the space as a last-mile distribution center. Any long-term deal with an industrial tenant would formally end the vision for high-rises on the site.
„ The Canadian developer planning to build almost 2,700 apartments on the southern tip of Goose Island has a deal to buy another big development site a block away, likely teeing up what could be well north of 1,000 more residential units along the North Branch of the Chicago River.
Onni Group is finalizing a deal to buy the 7-acre property at 700 W. Chicago Ave. from a joint venture of Irving, Tx.-based Nexstar and Chicago developer Riverside Investment & Development, according to sources close to the agreement. Financial terms of the deal are not clear, but people familiar with Onni’s plans said the Vancouver, B.C.-based developer would likely transform the property at the northeast corner of Chicago Avenue and Halsted Street with a residential project. The site is immediately north of the land where gambling giant Bally’s could win the right to build the city’s first casino, and sits just south the site where Onni is poised to build a 2.7 million-square-foot development on Goose Island, dubbed Halsted Point. Onni could potentially develop a project as large as 1.5 million square feet on the site, based on the property’s zoning, a size that could accommodate more than 1,000 apartments.“
Honestly LOVE this location and all the residential plans. Also, I saw a lot of talk on the city subreddit of individuals supporting increased transit in the area to support this. Super exciting overall!