Loukas Kicks Off Construction at Chicago Luxury Tower
The 148-unit building will be located in the Greektown neighborhood of Chicago’s West Loop. Additionally, the property will offer 7,500 square feet of retail space.
By Roxana Baiceanu
Loukas Development broke ground on The Van Buren, a 12-story mixed-use building right across the street from the National Hellenic Museum in Chicago’s West Loop. Upon completion, slated for late 2018, the community will incorporate 148 units and 7,500 square feet of retail space. The Van Buren will be one of the first new modern developments to come to the historic Greektown neighborhood.
Loukas’ capital partner is a company managed by Seattle-based Washington Capital Management Inc. Lendlease is the project’s general contractor.
“As the West Loop continues to evolve and attract global companies like Google, Hillshire Brands and McDonald’s, we’ll see ongoing demand for rental housing that can meet the needs of today’s sophisticated, transit-focused employees,” said Aristithis Loukas, managing director of Loukas Development, in prepared remarks.
Located at 808 W. Van Buren Ave., the property will be a glass and white aluminum paneled structure combining the loft warehouse-inspired design with modernist features. The designer is bKL Architecture that also signed projects for other notable Chicago multifamily properties such as Wolf Point West and MILA. The Van Buren is expected to include a mix of one- and two-bedroom units offering ample storage space and equipped with high-gloss cabinetry and full-sized appliances. The developer plans to add amenities such as:
- rooftop pool
- landscaped outdoor gathering space
- a lounge area equipped with a community kitchen on the 12th floor
- private work spaces
- fitness center with a separate studio for personalized classes
- 4,000-square-foot patio with a grilling section above the second-floor garage
- private package room
- bike storage area
- indoor dog run and wash station
- 21,115-square-foot parking garage accommodating 65 vehicles
The property will provide residents with access to several transit options, including the CTA Halsted-UIC Blue line train station. The Rush Medical District and the University of Chicago are close to The Van Buren.
“In the end, that combination of sophisticated architecture, high-end amenities and an appealing location is what will continue to attract residents, retailers and investors alike,” added Loukas.
Image courtesy of Loukas Development