In late 2019 we purchased a three-story building of approximately 28,000 square feet located on a quarter-acre site in Chicago’s West Loop. A former warehouse district, West Loop is one of the most rapidly developing neighborhoods in the country with an estimated more than seven billion dollars of investment in the past decade.
Originally a mix of factories, meat markets, and wholesale produce outlets, the neighborhood has seen a major demographic shift over the past dozen years. The historic brick and timber loft buildings that define the neighborhood have largely been converted to other uses, including a mix of luxury condos, creative offices, art galleries, food critics’ favorite restaurants, hotels, and retail boutiques.
The property is located in the middle of a burgeoning tech hub in Chicago, 1 ½ blocks from the Midwestern headquarters of Google and one block from two new and one expected high-rises. One of the three new buildings was developed for multi-family use and one for a newly developed for life science technology, with construction of the third high rise started in early 2025. Our building remains one of the lowest density buildings in a neighborhood of rapidly increasing density. This remains a consistent theme in how we invest.
