Chicago-based Orchard Development Group plans to spend about $40 million to purchase the old Ely & Walker Dry Goods warehouse at 1520 Washington Avenue. The 320,000-square-foot building will be rehabbed into 180 condominium units and renamed the Ely Walker Lofts. The new Ely Walker Lofts will include a fitness center, rooftop deck and a business meeting room for residents and retail tenants. Prices for the condos will range from $150,000 to the low $200,000s.

A restaurant and a national retailer are planned to fill the 50,000 square feet on the first floor, currently occupied by Gold's Gym and Document Imaging Systems Corp.
 

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