Caisson Work Begins For 199-Unit West Loop Apartment Tower

• Caisson construction is now underway at 566 West Van Buren in Chicago’s West Loop
• Riverside Investment & Development is replacing a former parking lot with a 199-unit rental building
• Project will include 42 parking spaces and storage for 199 bicycles

What Construction Activity Is Happening

Riverside Investment & Development has moved into full construction mode at 566 West Van Buren in Chicago’s West Loop. Crews have transitioned from initial site prep to caisson drilling as foundation work ramps up for the new residential development. The site, formerly occupied by a surface parking lot and two low-rise buildings, is now being transformed into a mid-rise apartment project.

What The Development Includes

The project will bring 199 rental apartments to the corner of West Van Buren and South Jefferson Street. Plans also call for 42 vehicle parking spaces and storage for 199 bicycles, reflecting continued demand for transit-oriented residential development in downtown Chicago neighborhoods. The former parking-heavy site is being repositioned into higher-density multifamily housing as West Loop development activity continues expanding south and west.

What The Construction Team Looks Like

Clark Construction is serving as the project’s general contractor, while Antunovich Associates is leading design work. Foundation drilling is being handled by Thatcher Foundations, with Adjustable Concrete overseeing concrete operations. A permit for the project’s tower crane has already been approved, with only the construction hoist permit still pending.

What This Means For West Loop Development

The project reflects the ongoing transformation of former parking lots and underutilized properties into residential developments across the West Loop. Developers continue targeting the neighborhood because of its proximity to downtown employment centers, transit access, and strong renter demand. The conversion of low-density parcels into apartment housing also highlights how Chicago developers are prioritizing infill multifamily projects despite ongoing construction financing pressures.

What Investors Should Watch

While Riverside initially targeted early 2027 occupancy, the delayed groundbreaking likely pushes completion further out. Still, construction momentum suggests confidence remains strong in Chicago’s urban rental market, especially for well-located West Loop projects positioned near transit and employment hubs.