Gills Have Chemical Building Under Contract

By on April 30, 2016

From St. Louis Post-Dispatch:  Weeks after an investment group dropped its plan to build apartments in the nearly vacant Chemical building, developers Amy and Amrit Gill are next couple up.

The Gills, who are married, have under contract the historic building at 721 Olive Street in downtown St. Louis. Their redevelopment plan has yet to be determined.

“The Chemical is too beautiful to pass up and too difficult to predict without a great deal more study about what it could become,” Amrit Gill said Friday.

What the Gills might pay for the building is undisclosed. The 17-story building has been on the market for $4.5 million.

Local investors who had partnered with a developer from Kansas City had considered a project to redo the Chemical as market-rate apartments. They dropped the project last month.

Previously, the same local investors had worked with a developer from the Seattle area to put a luxury boutique hotel in the building, real estate sources said.

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