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Chess Records Warehouse Part of $80M Redevelopment

CHICAGO-An eight-story building used as a warehouse by the legendary Chess Records label will be converted to 119 condominiums, while a 24-story, 140-unit condominium building will rise next door.

By Mark Ruda | Updated on September 18, 2005

(To read more on the multifamily market, click here.)

CHICAGO-The former Chess Records warehouse in the 300 block of E. 21st Street will be converted to 119 condominiums, with a 24-story, 140-unit condominium tower built to the west as part of an $80-million proposal. Developer William Warman tells GlobeSt.com he hopes to begin renovation of an eight-story warehouse into Chess Lofts in January, with construction of the Aristocrat condominium tower beginning in April.

The conversion of the 78-year-old building is expected to take a year, Warman adds, while construction of the condominium tower on land now used as a parking lot is scheduled to take 15 months. The studio, one- and two-bedroom units will average $315,000 and 950 sf, he says. In addition, plans by his Prairie Station Development, LLC include six four-story townhouses, which will have three bedrooms.

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