Redevelopment Aims To Capitalize On Demand For Office In Hot West Loop Market
The Missner Group has started work on the Oxxford at 1220 West Van Buren St. in Chicago, the redevelopment of a seven-story, 115K SF office/showroom and manufacturing building into a nine-story, 140K SF office building. According to Missner, the property will capture part of the growing demand for West Loop office space.
“The Oxxford is within Chicago’s West Loop’s recent retail, office and residential boom,” The Missner Group President Glen Missner said. “It lies within an area of increasing residential density and diverse demography.”
Redevelopment plans by Wright Heerema Architects include open floor plans with concrete and brick features throughout the space, along with such amenities as a tenant lounge with rooftop deck, a fitness center equipped with locker rooms and a lounge, a conference center and bike parking facilities.
Construction is slated for completion by mid-2019. Cushman & Wakefield's Jack McKinney Jr. will represent the Missner Group in leasing.
The redevelopment comes during a busy time for the West Loop, and not just the Randolph Street-core of the frenetic Fulton Market District. In September, New York-based JK Equities acquired 1400 West Monroe Ave., a four-story skilled nursing facility in the West Loop, for $6M.
New infrastructure is also coming to the area. This summer, the city of Chicago released renderings of the future Damen Avenue Green Line 'L' station. The facility is set to open in 2020, 72 years after the Chicago Transit Authority closed and demolished the original station.
