Permits are in hand, and shovels are not far behind at 566 W. Van Buren, where a new apartment building is set to push Chicago’s West Loop housing boom a little further west. Riverside Investment & Development plans a midrise at the corner of W. Van Buren and S. Jefferson, replacing buildings that were taken down after earlier demolition filings. Instead of lining the sidewalk with shops, the project leans heavily into resident amenities and is expected to bring roughly 199 apartments to the neighborhood.
Crane permits to flip the switch
The City has signed off on both a tower-crane authorization and a foundation and superstructure permit for the site, clearing general contractor Clark Construction to plant a crane and kick off major concrete work. A full building permit is already in the pipeline and is reportedly waiting on issuance, according to Urbanize Chicago. With those approvals in place, expect on-site staging and foundation pours to come first, followed by the moment everyone in the area will notice: when the structure starts climbing above street level.
12 stories of units and amenities
The latest version of the plan calls for a 12-story building, as reported by Urbanize Chicago. The development is set to include 199 apartments split among 52 studios, 113 one-bedrooms, and 34 two-bedrooms. Earlier plans that included retail space have been dropped, and parking has been trimmed from 76 spaces to 42.
Instead, Riverside is loading up the building with resident perks: a club room and private club room, coworking space, fitness center, bike room, and an outdoor deck fitted out with grilling stations, lounge seating, and a pool. For renters, it is more resort-lite than corner-store convenience.
From plans to active construction
The address has been on the city’s redevelopment radar since at least 2022, when demolition permits were pulled, and an earlier concept pictured a taller 14-story structure, according to Chicago YIMBY. Riverside, long associated with big downtown office towers, has been steadily edging into residential work in recent years, an industry shift noted by CTBUH. The freshly issued crane and foundation permits are the strongest indication yet that this particular West Loop parcel is finally moving from drawings and approvals into full-fledged construction.
What neighbors should watch for
The property sits inside the DX-7 downtown zoning district and carries a transit-served designation, which helps explain the reduced parking count and heavy emphasis on shared amenity space, according to property and zoning data from Chicago Cityscape. Neighbors and commuters should be ready for construction staging, occasional lane shifts, and crane activity as crews establish the base of the building. If foundation work stays on schedule, the new West Loop addition could start rising above grade in the coming months.
