Entertainment entrepreneurs are turning the former Morton Salt warehouse on the Chicago River’s north bank into a music venue — part of an extensive redevelopment project at a cost possibly reaching $50 million. The venue will have an appropriate name: The Salt Shed.
Crain’s Chicago Business reported on Feb. 17 that 16″ on Centre is working on the project at the 1300 block of North Elston Ave. The Chicago Department of Planning and Development estimated in June, 2021 that development might cost as much as $50 million, but 16″ on Center principal Bruce Finkelman declined to comment, the business publication reported.
Developers Blue Star Properties and R2 Companies reportedly purchased the property for $15 million in 2018.
Plans are to host open-air shows in August and complete the interior spaces by 2013.
The Salt Shed is part of an overall redevelopment of the site. Planning documents indicate that the developers intend to convert the freestanding garage building into a food and beverage retailer, and the packaging buildings will be converted to office and complementary commercial use, Chicago YIMBY reported in January 2021.
Chicago issued a $6.5 million building permit in September, 2021 for “work and construction of new partitions, ceiling, finishes and MEP as per plans. Blue Star Properties Inc. was listed as self-performing as the project’s general contractor.
Key subtrades include: Electrical – Abco Electrical Construction and Design; plumber/plumbing – AMS Mechanical Inc.; and refrigeration and ventilation – Ventric Mechanical Systems Inc.