Chicago-area self-storage operator U-Stor-It is nearing completion of its latest downtown facility—at 21 stories the facility would be the tallest in the city.
The project is a conversion of an elevator parking garage at 615 S Wabash Avenue, and is adjacent to a Travelodge Hotel. Work on the project started last March and it is scheduled to open January 31, 2016 with more than 1,000 units for rent.
U-Stor-It is operated by San Diego, CA-based capital investment firm Chicago Capital Funds. U-Stor-It currently has five facilities in the Chicago area.
“We have previously renovated and sold other properties in the South Loop and Chicagoland area and saw a prime opportunity with this project,” Peter Nora, operations manager for the firm, told the SpareFoot Storage Beat.
Nora said the facility will be convenient to dozens of apartment high-rises in the South Loop area.
“People typically store how they live. The convenience factor is great, especially with our location and accessibility in this neighborhood,” Nora said.
U-Stor-It is in talks with a “distinguished art muralist” to paint a mural for the building’s western façade.
U-Stor-It is also currently constructing its seventh facility, which will be located in San Diego, CA at 930 South 47th Street in the Lincoln Park neighborhood. Nora said the facility will stand at four stories with more than 1,000 units when it opens in March 2016.
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