The Missner Group and Base 3 Development Secure Financing, Begin Construction on Oxxford Lofts Redevelopment in Chicago’s West Loop Neighborhood
Historic industrial building at 1220 W. Van Buren St to be converted into 112-unit multifamily community with 20% affordable housing
Chicago, IL – May 7, 2026 –The Missner Group, in conjunction with financing and redevelopment partner Base 3, is commencing construction on Oxxford Lofts, a historic redevelopment project in Chicago’s West Loop that will transform a former industrial building into a 112-unit multifamily community. The building is named for its previous owner, iconic Chicago clothing company Oxxford Clothes.
The approximately $42 million project will reposition the property into a modern residential offering while preserving the character of the existing structure. Plans call for a full gut renovation, all new building systems, upgraded sustainability features, and contemporary unit layouts designed for today’s renters. The development will also include a rooftop deck, fitness center, coworking space, secure bike storage, and other resident amenities. Twenty percent of the units will be designated affordable housing.
The Missner Group is serving as general contractor on the project and is also a financial partner in the venture through its joint venture with development firm Base 3. Located at 1220 W. Van Buren Street, the property sits in a prime West Loop location with convenient access to Fulton Market, public transit, and major highways.
“This project is an exciting opportunity to bring new life to a well-located building in one of Chicago’s most active neighborhoods,” said Neely Sadowski, President of Construction at The Missner Group. “We’re proud to be working alongside Base 3 to move this redevelopment into construction and deliver a high-quality residential project that adds needed housing while respecting the building’s existing character.”
For Base 3, the start of construction marks a major step forward for a long-anticipated adaptive reuse project in the West Loop.
“We’re thrilled to see Oxxford Lofts move from planning into execution,” said Alec Greenberg, Managing Principal & Head of Acquisition at Base 3. “This project reflects our belief in the long-term strength of the neighborhood and the value of thoughtfully redeveloping existing buildings into housing that meets the needs of today’s residents. We’re excited to partner with The Missner Group to bring that vision to life.”
The project highlights The Missner Group’s continued strength in technically complex renovation and adaptive reuse work. By combining construction expertise with investment participation, the company is helping reposition an underutilized asset into a residential community that will contribute to the continued growth of the West Loop.
Leasing for the building is expected to begin in spring 2027 through Base 3 Development.
ABOUT THE MISSNER GROUP
Established in 1945, The Missner Group (TMG) provides comprehensive and integrated real estate investment, development, acquisition, and construction services throughout the Midwest. TMG has completed over 3 billion dollars of construction and over 25 million square feet of development. For almost 80 years they have committed to the same mission and vision establishing themselves as a premier and preferred general contractor and developer throughout the Midwest.
Media Contact:
Tessa Meehan
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