Chicago Construction News staff writer
Construction is beginning on Oxxford Lofts, a $42-million redevelopment project in Chicago’s West Loop that will convert a former industrial building into a 112-unit apartment complex.
The project is being developed by The Missner Group in partnership with Base 3. Located at 1220 W. Van Buren St., the development will repurpose a building formerly owned by Oxxford Clothes, the namesake for the project.
Plans for the redevelopment include a full interior renovation, replacement of building systems and upgrades intended to improve energy efficiency and sustainability. The project will also add rooftop amenities, a fitness centre, coworking space and secure bicycle storage.
Twenty per cent of the apartments will be designated as affordable housing.
The Missner Group is serving as general contractor and is also participating financially in the project through its joint venture with Base 3.
“This project is an exciting opportunity to bring new life to a well-located building in one of Chicago’s most active neighborhoods,” said Neely Sadowski, president of construction at The Missner Group. “We’re proud to be working alongside Base 3 to move this redevelopment into construction and deliver a high-quality residential project that adds needed housing while respecting the building’s existing character.”
Base 3 managing principal and head of acquisition Alec Greenberg said the project had been in planning stages for several years before construction began.
“We’re thrilled to see Oxxford Lofts move from planning into execution,” Greenberg said. “This project reflects our belief in the long-term strength of the neighborhood and the value of thoughtfully redeveloping existing buildings into housing that meets the needs of today’s residents.”
The building is located near the Fulton Market district and has access to public transit routes and major highways. The redevelopment is part of a broader trend of adaptive reuse projects across Chicago, where former commercial and industrial buildings are being converted into residential developments.
