Building permits have been issued and work has begun on the conversion of the former River East Art Center building at 445 E Illinois into 285 loft apartments.
Preliminary signage has been posted on the site. A website is expected to go live in about a week, and pre-leasing activity will begin shortly.
The development will have first-floor commercial space, extensive common-area amenities, and high-end apartment finishes. First occupancies are being targeted for year-end – an ambitious schedule.
The new lofts will bring a markedly different product to the Streeterville market, where rentals consist almost exclusively of high-rise apartments. The building has an attractive location fronting Ogden Slip on the south and a park on the north.
An affiliate of Group Fox is the developer. We’ll provide more details as they become available.