1050 W. Van Buren Street
Development Project | WEST LOOP
From Auto Body to High Rise Apartment Development
In an off market, confidential assignment Mark Nelson, SIOR was hired by Guy & Sons Auto Rebuilders to market their second generation auto business on 17,469 SF of land to capture the growing demand for multi-family development in the West Loop.
The NelsonHill team went to work, developing the right marketing collateral inclusive of aerial pics, demographic study and TOD analysis to best showcase the property to create maximum value. NelsonHill secured TANDEM Development (previously Spearhead Development) as the highest bidder.
Chicago-based developer Tandem Partners and architecture firm Antunovich Associates, intend to replace the Guy & Sons Auto Rebuilders with two buildings which would top out at 21 stories and deliver 222 dwelling units. A shorter 15-story building at 1125 W. Van Buren would contain 121 apartments. The developer tells NoWL that the designs are “influenced by the Chicago School style, with masonry cladding and large windows.”
The community group has yet to take an official position on the projects but does plan to hold a public meeting to discuss the developments in the near future. Both apartment buildings will require a zoning change from the city to move forward.