Last September Chicago Real Estate Daily reported that the building then known as River East Plaza was on the market as a redevelopment opportunity. We briefly revisited the history of the building, including the successful two-day home show we ran there in 1988.
Today’s Chicago Real Estate Daily reports that a Chicago investor group has acquired the former North Pier Terminal and plans to convert it to loft apartments.
The market crash doomed an MCL Companies’ plan to convert the building to 280 loft condos. That plan originally included the addition of two stories of concrete lofts to the timber building. The interior photos are from MCL’s model units at “The Lofts at River East Art Center.”
In December of 2008, when the market was definitively crashing, MCL’s Dan McLean sat with us and talked about the growth of the River East area and his ambitious development plans around the country.