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1030 W Chicago Ave. When U.S. Bank announced in 1996 that it planned to relocate its branch office from 1030 W. Chicago Ave., in Chicago's River West neighborhood, there was concern among local residents and businesses as to the future of this key neighborhood commercial district. While still desiring a presence in the community, U.S. Bank simply did not require a building as large as the three-story, 39,000 sq. ft. 1030 W. Chicago Ave. property. Aware of the fact that its relocation could have far-reaching effects on Chicago's emerging River West community, U.S. bank established three goals for its move and the subsequent property re-development.
"There's no doubt that the 1030 W. Chicago building could have been successfully converted to condominiums, but that's not what the neighborhood needed", stated Baum Brothers principal, David Baum. "There's plenty of residential construction and renovation going on in River West. Residents are now looking for business and retail growth to support and serve the community." With that premise in mind, Baum Brothers redeveloped the 1030 W. Chicago building and successfully solicited quality office and retail tenants, including Marriott, Kinko's and Nationwide Insurance. Baum Brothers even relocated its own corporate headquarters into the building. Baum Brothers also constructed a new U.S. Bank facility in the vacant lot across the street from 1030 W. Chicago and successfully built and leased space on the same property to Osco Drug. The new commercial district, completed in September, 1997, has earned praise from Chicago city alderman Walter Burnett as well as the River West Neighborhood Association and local residents and retailers. Community officials view the project as a key component in River West's continuing growth and economic prosperity. |
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1030 W. Chicago Avenue :: Suite 200 :: Chicago, IL :: 60642 :: P: 312.666.3000 :: F: 312.666.7970 :: info@baumrealty.com |
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