New details have been revealed for the mixed use redevelopment of 465 W Cermak Road in Chinatown. Located directly on the south branch of the Chicago River and on the intersection with S Canal Street, the multi-story structure has seen its fair share of redevelopment proposals in the last few years with none coming to fruition yet. Years after 465 W Cermak Road was proposed to be turned into residences, then into a hotel with a home furnishings store, now Aurora-based Windfall Group is set to try again with a change in plans as it now becomes known as Pacifica of Chicago.
Rising six stories above ground, the massive W.M. Hoyt warehouse building was erected in 1909 for the namesake grocery wholesaler. Designed by Nimmons & Fellows, the Prairie-style structure is located within the Cermak Road Bridge District which houses the city’s only double leaf rolling bridge. Now the area is well known for the Jefferson Square marketplace and Radius Chicago music venue, all within walking distance from the heart of Chinatown.
The 280,000-square-foot building will be cleaned and restored, with the installation of new windows having been started by the previous owner who planned for over 200 hotel rooms on the top floors. The new plans, though vague, include a large retail component with riverfront access, education, dining, food hall, spa, and a grocer, all of which will be topped by over 100 residential units. Serving as a community destination like many of the developers other Pacifica projects, it will also include leisure activities, services, and cultural amenities.
Currently there are nearby parking spaces visitors may use and the developer claims to have also purchased an additional structure on an adjacent parcel, to be used for a future second phase allowing for a comprehensive development. No budget nor building permits have been submitted to the city, and while the site won’t require a rezoning, it will need plan approvals and to secure funding. However it is worth noting that the Windfall Group’s website shows a groundbreaking date of spring 2023.