Baum Revision pays $26M for Avondale office complex

Developer plans to convert former two-building WMS Industries HQ into a multi-tenant property

Chicago /
Apr.April 15, 2020 12:00 PM
Scott Goldman and the former WMS Industries campus in Avondale

Scott Goldman and the former WMS Industries campus in Avondale

Baum Revision has its sights set on another big redevelopment, this time at the former WMS Industries headquarters in Avondale.

The Chicago-based developer paid $25.5 million for the 240,000-square-foot campus. It plans to convert the two-building complex into a multi-tenant property, according to Crain’s.

“We really believe in the activation of the river,” said Baum’s Scott Goldman. The 11-acre property is near the 312 RiverRun bridge, which will connect to three parks in the future.

Baum is hoping that the recent pandemic is just a temporary setback in Chicago’s strong office leasing market. He told Crain’s that the firm has seen significant interest in projects on the Northwest Side.

WMS, a slot machine maker that was bought by Rival Scientific Games in 2013, vacated its campus in 2018 for an office in River North.

In September, Baum sold a $55 million stake in the Green Exchange Building, its Logan Square office redevelopment. The company’s portfolio includes multifamily construction, hotels and retail centers. [Crain’s] James Kleimann


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