1030 W. Chicago Ave., Chicago, IL 60642
mixed use building in River west
Number of Units: 3
Size: 25,000 square feet
Acquisition Date: 1996
Baum received the 1999 Chicago Association of Realtors Good Neighbor Award for Best Commercial New Construction: 1030 W. Chicago Avenue & 745 N. Milwaukee Avenue
When First Bank, successor to National Security Bank, relocated from 1030 W. Chicago Avenue in 1996, neighbors were concerned the commercial district would become desolate.
We redeveloped the vacant building from a single user bank to a mixed-use, multi-tenant retail and office building. By aggressively marketing the property, we were able to lease 100% of it within 24 months. The original tenants included Marriott, Kinko's, and Nationwide Insurance. These tenants not only provided a newfound vibrancy to the neighborhood, but much-needed jobs as well. Baum even moved its own corporate headquarters to occupy 9,000 square feet of the building.
1030 W. Chicago is a three-story hexagonal building at the corner of a heavily trafficked River West intersection. The six-way intersection is a hub for various public transportation outlets, which include the Chicago Blue Line "L" stop, multiple bus lines, and Divvy bikes. We continued to develop the retail community around 1030 W. Chicago, constructing two single tenant buildings at 745 N. Milwaukee Avenue, formerly a vacant lot. The buildings are currently leased to notable tenants U.S. Bank and CVS. We have completed six additional projects within one block of this busy intersection to further enhance the neighborhood and serve as a hub for additional growth.
Upon completion in September of 1997, Chicago Alderman Walter Burnett along with the River West Neighborhood Association and local residents and retailers joined together to praise Baum for the new commercial district calling it a key component to River West's growth and economic prosperity.