1016 West Jackson is situated on approximately 0.59 acres (25,784 sf.) and is currently improved as a 29,912 square foot 5-story shared suite office building with surface parking in the rear. The Property is currently zoned DS-3 (Downtown Service District) and lies proximate to Chicago's downtown expansion area overlay. JLL believes it would be feasible to rezone the site and envisions a large scale residential development as a future use for 1016 W. Jackson.
1016 W. Jackson represents a prime opportunity to control a highly visible site in the flourishing West Loop neighborhood.
1016 W. Jackson allows a developer or investor to lease space within the existing improvements in the interim before developing on the site.
Chicago's residential resurgence has been driven by the West Loop, where 4,885 units have delivered since 2015 with a 95% average occupancy.
The West Loop has rapidly transformed into a high-density neighborhood characterized by creative office, luxury high-rise housing, boutique hotels, trendy retail, and a renowned dining and nightlife scene. The neighborhood's character, history and amenities will continue to attract young professionals, retailers, restauranteurs and both early stage and global businesses alike.