Greg Greif, 2RZ Pitch 100-Unit South Loop Housing Plan

UPDATED April 17, 7:35 a.m.

Greif Properties has revealed an updated design for a classy South Loop apartment and will seek approval later this month from the Chicago Plan Commission.

The five-story, 100-unit development called Parkway Residences will occupy a vacant site at 1225 South Indiana Avenue, reported Urbanize. Greif expects to break ground on the project early next year, with a completion date of early 2025.

It’s one of several multifamily projects being pushed forward in the South Loop, as developers have started looking to the area and the South Side more broadly for better deals on land as compared to the West Loop, where a construction rush has driven up property values.

While Greif project will be a mid-rise, developers such as CMK Companies have recently completed high-rises in the area and are buying more land.

2RZ Architecture has signed on as the designer of Parkway Residences.

The building will have a mix of 60 one-bedroom units, 13 two-bedrooms, 12 three-bedrooms, 13 three-bedroom duplexes and two four-bedroom duplexes. The site will also include an underground parking garage with 87 spaces. Residents will have access to a roof deck, and select units will feature a balcony.

Parkway Residence will have two separate wings, built in an S-shaped design in order to give space for a 12,000-square-foot publicly owned park at the corner site, covering the underground parking garage.

Amenities include a residential lobby, fitness center, club room and bike room with 100 spaces, all located on the ground floor. The park is set to have ample lighting and seating, and it’ll be closed from the public at night by city ordinance.

Renderings indicate that 2RZ will work its artistry once again, with a white cast stone facade on the lower levels contrasted with darker masonry on the upper levels, giving it a clean and elegant appearance.

— Quinn Donoghue

This story has been updated to correct the spelling of the firm Greif Properties and its leader Greg Greif’s surname.