chi-loukas (2) The building in Greektown will be one of the first new, modern buildings in the neighborhood.

CHICAGO—The historic Greektown neighborhood in the West Loop has been known for its brick-and-timber loft spaces, but with the area also becoming an office hub for global companies, developers say it’s time to supply new apartments. Loukas Development recently began construction on The Van Buren, a 12-story boutique mixed-use development at 808 W. Van Buren Ave. It will be one of the first modern, multi-family buildings in the neighborhood.

“We see a very diverse economy in the West Loop,” Aristithis Loukas, managing director of Loukas Development, tells GlobeSt.com, and the area will need a lot of rental housing to accommodate all of its new office workers. With occupancy costs far below comparable spaces in Manhattan or the West Coast, “we’re seeing tenants line up one by one to come into the West Loop.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.