R2 Cos. and T2 Investments plan 13-story office tower in Evanston

The venture bought the former city-owned parking lot on Chicago Avenue for $4M

Jun.June 06, 2018 02:13 PM

1714-1720 Chicago Avenue

A venture that includes R2 Companies and Wheaton-based T2 Investments wants to develop a 13-story office tower in Evanston.

Plans submitted to the city detail a building with nine floors of office space over four floors of parking at 1714-1720 Chicago Avenue, according to Evanston now.

Paul Janicki Architects is listed in the plans as requesting the zoning change for the project, but the documents list Chicago-based R2 and Wheaton-based T2 as the owners. Janicki’s Evanston-based firm is listed on floor plans for the building along with R2 and Chicago-based Holabird & Root.

The city sold the developer the property, a former city-owned parking lot next to the Evanston library, for $4 million last year.

A consultant to the developer says the Class A office market in Evanston now has a vacancy rate of less than 5 percent.

A venture of Chicago-based GEM Realty recently agreed to buy a majority stake in another big Evanston office tower, the 20-story Orrington Plaza at 1603 Orrington Avenue, from Investcorp.  [Evanston Now] — John O’Brien

Related Articles

1035-1065 N Orleans St (Credit: Google Maps)

Developers place bets on another downtown hotel

2537 North Pulaski Road in Logan Square (Credit: Google Maps)

‘Hipster’ concert venue will cause gentrification, Logan Square activists claim

Former NFL player Israel Idonije and 200 W. Madison St. (Credit: Getty Images, Google Maps)

Former Chicago Bear launches 1871-styled incubator with insane lease rates

Sterling Bay’s Andy Gloor and renderings of 333 North Green Street (Credit: Sterling Bay)

Sterling Bay’s new Fulton Market HQ is a Sterling Bay construction

1000 and 1100 E. Warrenville Road (Credit: iStock)

This developer is willing to take a loss on a Naperville office complex

PepsiCo CEO Ramon Laguarta and WeWork CEO Adam Neumann with the Old Post Office (Credit: Getty Images)

Space race: WeWork, PepsiCo may take a combined 320K sf at 601W Companies’ Old Post Office

IBT Group’s Gary Pachucki and renderings of Humboldt Lit (Credit: LinkedIn and IBT)

The New Fulton Market? Local developer puts $50M bet on Humboldt Park

Tucker Development CEO Richard Tucker and 954 West Washington Boulevard (Credit: Tucker Development, Lindon Associates)

Tucker Development is latest company to move to Fulton Market