MIAMI, Sept. 24, 2021 /PRNewswire/ — Lionheart Capital is pleased to announce the successful rezoning of the White Cap Lofts building at 1819 North Major Avenue in Chicago, Illinois.
The Chicago City Council voted last week to approve the rezoning of the blighted industrial building that housed the White Cap Bottle Company from 1930 to 2002. White Cap Bottle Company was best known for inventing vacuum-sealed bottle lids and twist-off bottle caps. Since the company’s closure, the 360,000 square foot property has been through a succession of owners and fallen into disrepair. The factory is one of the largest vacant buildings in the Armitage Industrial Corridor.
Lionheart Capital acquired the building in 2017 and immediately set to work on plans to give new life to the property, the industrial corridor and this section of the Galewood and North Austin neighborhoods. The L-shaped complex is made up of the 7-story manufacturing building and a two-story warehouse.
«We are thrilled to have the way cleared to begin a successful redevelopment of this stunning though neglected property. The foundations of this industrial building are solid, as it housed a successful, job creating local business for many decades. We look forward to restoring both the physical premises and the community function of this property. We want to make it a cornerstone in the revitalization of the neighborhood, the industrial corridor and the greater Chicago area at large. We would like to especially thank Ald. Chris Taliaferro (29th ward), Chicago City Council and City staff for sharing our vision and approving the rezoning that will make this possible,» said Allison Greenfield, Principal and Chief Development Officer of Lionheart Capital.
Construction is expected to begin in Q3 of 2022.
ABOUT LIONHEART CAPITAL
Lionheart Capital is a Miami-based diversified investment firm focused on building value-growth companies in the public and real estate markets. Lionheart Capital’s principals have been involved in the successful acquisition, development, repositioning and disposition of real estate and publicly traded assets for over 25 years. As active value-creators in the real estate sector, Lionheart Capital has successfully transacted in all major asset classes including office, commercial, industrial, retail, hospitality and ultra-luxury residential condominiums. For more information, please visit http://www.Lheartcapital.com/
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SOURCE Lionheart Capital