Riverside Investment and Development Secures Construction Permits for 199-Unit Multifamily Tower at 566 W. Van Buren in Chicago
Construction is moving forward on a 199-unit residential tower at 566 W. Van Buren Street in Chicago after the city issued a tower crane permit and a foundation/superstructure permit for the project, developer Riverside Investment and Development announced March 25, 2026.
The permits allow general contractor Clark Construction to place a tower crane and commence foundation work at the corner of W. Van Buren Street and S. Jefferson Street — a site that has sat vacant since demolition permits were issued in 2022. A full building permit has been filed and is awaiting issuance.
Revised Design Eliminates Retail Space, Reduces Parking
The project, designed by Antunovich Associates, has undergone significant revisions since its original 2022 iteration. The updated scheme stands 12 stories tall — two floors fewer than the earlier plan — while retaining the same 199-unit count. Among the most notable changes, the revised design eliminates all retail space from the building's program, a shift that required approval from the Chicago Zoning Board of Appeals.
The ZBA recently approved a variation allowing alternative compliance with open space requirements and granted a special use permit authorizing the ground floor to be used for tenant amenity spaces rather than retail or commercial uses. The removal of a dedicated second-floor parking level — combined with changes to unit layouts — accounts for the reduction in building height. Parking has been reduced from 76 spaces in the original plan to 42 spaces, which will be located on the ground floor and accessed from the alley.
Unit Mix and Amenity Program at 566 W. Van Buren
The 199-unit building will include 52 studio apartments, 113 one-bedroom units, and 34 two-bedroom units. Typical residential floors above the ground level will contain 19 units per floor. The revised design eliminates individual unit balconies, though select units on the second floor will have access to private terraces on the second-floor roof deck.
On the ground floor, the residential entry will face W. Van Buren Street, with amenity spaces along S. Jefferson Street that include a coworking space, mail room, fitness center, and bike room. The top floor will house nine residential units alongside amenity spaces including a club room, private club room, and an outdoor deck featuring a grilling area, lounge, and pool.
Next Steps for the 566 W. Van Buren Development
With the tower crane and foundation permits in hand, Clark Construction can proceed with site preparation and early foundation work. The project team is awaiting issuance of a full building permit before vertical construction can begin. No construction timeline or projected delivery date was disclosed in connection with the permitting announcement.
The ZBA approvals, combined with the newly issued construction permits, represent a significant milestone for a project that has been in planning and permitting since at least 2022.
Sources:
Riverside Investment & Development — Permits Issued for Residential Development at 566 W. Van Buren