A developer is moving ahead with its mixed-use office and industrial redevelopment project in North Austin, after receiving Chicago Plan Commission approval.
Whitecap Lofts LLC will overhaul a total of 360,000 square feet at 1819 N. Major Avenue in what had been the headquarters of vacuum seal technology firm White Cap, according to Chicago Yimby.
The complex, a seven-story building and two-story industrial property, has been vacant for a decade, located in the booming Armitage Industrial Corridor.
The proposed redevelopment will include turning the top floor of the two-story building into 55,000 square feet of office space. The first floor will become a 139-vehicle garage, the report noted.
The taller building’s first two floors will also be office space with the remaining five floors set up for warehouse space. All seven stories will have about 25,000 square feet of space per floor, according to Chicago Yimby.
The proposal moves on to the Zoning Committee for approval.
Chicago’s industrial market continues its hot streak. Tenants signed 173 leases in the second quarter for 15.4 million square feet of space, according to a recent report. That total was a quarterly record. One of the biggest takeaways was the drop in the vacancy rate to 6.29 percent from 6.68 percent in Q1.
[Chicago Yimby] — Victoria Pruitt