West Loop Just Broke Ground on an $85M Apartment Building — And It's Only the Beginning for the Union Station Corridor

By Socialhood News · Il/Chicago/West Loop · June 16, 2026

West Loop neighbors, your neighborhood's transformation just hit a major new milestone — and this one is literally being built from the ground up. Riverside Investment & Development Company and its partners celebrated the groundbreaking of 566 West Van Buren, a brand-new 12-story, 199-unit multifamily development right here in the heart of the neighborhood. The approximately $85 million project was announced June 10, signaling serious long-term confidence in the continued evolution of the Union Station corridor.

Located just one block west of BMO Tower and Union Station, the development is part of Riverside's broader vision for the area — one that already includes the 1.5 million-square-foot BMO Tower anchored by a 1.5-acre public park. Developed in partnership with Blue Star Properties, Atlantic Residential, and Metropolis Investment Holdings, the building is being designed by Antunovich Associates and built by Clark Construction. And the momentum doesn't stop there: nearby, the University of Illinois is also redeveloping the former Molson Coors headquarters at 250 South Wacker into a cutting-edge AI and technology innovation center.

With hundreds of new homes and an innovation hub taking shape along the western edge of the Loop, West Loop's transformation from industrial district to premier live-work destination is accelerating faster than ever. Are you excited to see the Union Station corridor evolve? Share your thoughts and tag your neighbors right here on Socialhood!

Sources:
1. https://www.connectcre.com/stories/riverside-investment-development-breaks-ground-on-west-loop-multifamily-development/
2. https://rejournals.com/riverside-investment-development-celebrates-groundbreaking-of-199-unit-multifamily-in-chicagos-west-loop/