That means this pioneering effort could make room for existing Pilsen businesses as well as local start-ups and nonprofits. But Transwestern officials also expect to draw tenants from other parts of the city, including those seeking proximity to the Illinois Medical District and University of Illinois at Chicago.

Pilsen's direct office asking rates are on average 30% to 50% less than asking rates in the West Loop. In addition, Mural Park will offer efficient, 20,000-square-foot floor plates, a big plus for businesses that want full-floor leases.

Condor plans to include a restaurant, café, rooftop deck, bicycle storage, and a dog-friendly environment. In addition, local artists will create murals for the development's community plaza, which the city will use as a featured destination along its new Paseo trail, a four-mile bicycle and walking “rails-to-trails” corridor connecting University Village with Pilsen and Little Village.

“We are excited to develop a project that respects the cultural and economic diversification of Pilsen while simultaneously creating job opportunities and public spaces that enhance the neighborhood. Pilsen offers a tapestry of cultural opportunities and is already a great place to live, work and play,” says Michael McLean, a Condor principal. “It is quickly and easily accessible via public transportation and the Dan Ryan Expressway, and we are restoring two beautiful 100-year-old heavy timber buildings. Mural Park is the authentic home our city's employers have been looking for.”

CHICAGO—There is a lot of demand powering the CBD's robust office market, and recently that has pushed developers to look beyond the Loop to new potential submarkets like Goose Island. And now Condor Partners has decided to establish itself in Pilsen, a vibrant community on the Near South Side. The Chicago-based firm plans to redevelop two 100,000-square-foot loft buildings at 1901 and 1911 S. Sangamon St. into a mixed-use property that will include office, light manufacturing and retail space.

Condor has also brought on Transwestern senior vice presidents Jeff Dowdell and Katie Steele and associate William Briggs to lease the project, called Mural Park, which it will have ready for occupancy in first quarter 2018.

The neighborhood hosts the renowned National Museum of Mexican Art, and has gained notice due to its many murals and community art projects, and Condor wants its project to reflect and build on that tradition.

“Local businesses already know Pilsen as a vibrant community with a rich cultural history, so Mural Park has been designed to celebrate that identity while appealing to creative and modern users in search of space beyond the Loop,” says Steele. “Adding to its appeal, Mural Park can accommodate tenants looking for as little as 5,000 square feet to a single user needing the full 200,000 square feet, which is difficult to find in this area.”