Pilsen Gateway is a groundup QOZ development located 1.5 miles from downtown Chicago in the Pilsen neighborhood. It will consist of 202 units when completed with 7,584 square feet of ground floor retail. We’ve placed the last beam on top of the structure, poured concrete for the pool deck and are currently in the process of installing glass on the second floor. The brickwork to the ground floor retail is also coming along. We anticipate construction to be completed in 2021.
This project is a joint venture investment with CEDARst, one of Chicago’s largest, fully integrated development firms. It is expected to generate a 300% after-tax gain on invested equity over ten years.