CHICAGO—Dayton Street Partners is at it again. Principal Howard Wedren says the Chicago-based commercial real estate investment and development firm is ready to launch the redevelopment of another Chicago property – this time it's a 40,000 square foot timber and masonry loft located at 2137 West Walnut St. The company has recently begun a number of Chicago projects outside the downtown area that will result in a host of modern office or distribution spaces.

“Our redevelopment of 2137 Walnut will attract tenants looking for creative space, similar to that of the West Loop and River North at a rent that is significantly less,” Wedren tells GlobeSt.com. “As the city's business district expanded west in recent years, a majority of similarly built buildings were converted to residential or commercial use leaving tremendous demand for loft office space and very little product to satisfy that demand.”

Dayton Street will transform the two-story building, built in 1925 and formerly home to Kehoe Designs, into creative office space. Construction will begin immediately and include new exterior windows, interior sandblasting, new steel staircases, new electrical service and lighting and an ADA compliant elevator. According to Cook County property records, the developer picked up the building for $1.925 million.