Multifamily N Illinois

Former Otis Elevator factory timber loft conversion is revealed

CEDARst Companies has announced the opening of 1435 W. 15th Street. The large, timber loft building was the former headquarters of the Otis Elevator factory and is on the National Register of Historic Places. Originally constructed in 1900, the building faces Addams Park in the University Village neighborhood, just South of the medical district.

“We were really drawn to this building’s history. It is one of the last timber loft buildings left that is close to downtown and it gives us an opportunity to offer larger units,” said Alex Samolovych, co-founder and partner with CEDARst. Companies. “The building has a lot of great features and amenities that we are excited to offer.”

The building contains 92 units, featuring exposed timber, concrete floors, exposed brick and preserved graffiti in select units. There is a lounge in the lobby and another on the roof, boasting a kitchenette and a large roof deck. Indoor parking is available and some of the ground floor units have private patios.

Chicago’s second Costco location opened one block from the building in 2012, which has opened up the neighborhood for more growth opportunities.