Chicago, IL

Baum Development saw the perfect opportunity to capitalize on the West Loop neighborhood's demand for modern luxury residences at 23 N. Green Street and quickly acquired the 62,500 square foot, five-story concrete loft building. A former Chicago bakery Baum successfully converted the property into 23 luxury residences and two commercial condominiums.

Due to a complex structural system other developers passed over the space located at 23 N. Green Street. The vision was to perform a gut rehab and successfully convert the space into large luxury residences. The West Loop sub-market is a young

and vibrant area, near restaurants and night life and night life and the new construction catered to upscale, first-time buyers. There was no new construction product for move-up buyers, or for empty nesters. To capture this new market segment, Baum incorporated larger floor plans, spacious room sizes, powder rooms, and more spacious kitchens and bathrooms than the competition. Additionally, many of the units contained dens and offices.

The final result was a successful project with highly acclaimed layouts that sold out before completion. Ninety percent of buyers came from within the targeted sub-market, confirming the demand for new construction move-up product in this market.