Chicago’s West Loop keeps adding towers, and the latest is going vertical. 566 West Van Buren, a 12-story, 199-unit residential building near Union Station, broke ground in June with Clark Construction as builder and Riverside Investment & Development leading a partnership that includes Blue Star Properties, Atlantic Residential, and Metropolis Investment Holdings.
Project Scope
The tower rises on a tight 26,000-square-foot footprint with studios, one-bedrooms, and two-bedrooms, an enclosed 42-space garage on the ground floor, and parking for nearly 200 bikes, a ratio that says plenty about who the building is for. Clark has already poured deep caisson foundations and erected the tower crane, shifting crews to vertical concrete. The project secured about $64 million in financing before breaking ground, a sign lenders still back well-located multifamily.
Why It Matters
The West Loop has been one of the country’s more active rental submarkets, and transit-adjacent sites near Union Station lease well. A 12-story infill tower won’t reshape the skyline, but it’s the kind of steady multifamily work that keeps concrete crews busy through a slower commercial cycle. Delivery is set for early 2027, into a market that’s still absorbing new units at a healthy clip.
Project Team & Details
| Developer | Riverside Investment & Development (with Blue Star Properties, Atlantic Residential, Metropolis Investment Holdings) |
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| General Contractor | Clark Construction |
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| Status | Under Construction |
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| Funding Source | Private |
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