Baum Revision

What Baum Revision does

Baum Revision is a Chicago-based private real estate development company that specializes in adaptive reuse, historic preservation, and sustainable mixed-use development. The firm acquires underutilized, blighted, or landmark-designated properties and repositions them as multi-tenant, LEED-certified environments serving retail, healthcare, education, food-and-beverage, logistics, and creative-industry tenants. Its portfolio spans over 100 completed projects across 11 U.S. states, totaling more than 5.4 million square feet of developed space with cumulative capitalization exceeding $350MM. Signature assets include the LEED Platinum-certified Green Exchange in Chicago (272,000 SF, 20+ tenants, 1,200+ daily occupants), the rehabilitated Garver Feed Mill in Madison (55,000+ SF food-production hub), the Ramova Theater live-performance venue in Bridgeport, the LEED Gold Block 44 in Boise, and the 2.5 million-square-foot Wampum Underground storage facility in Pennsylvania. The company operates an in-house property management function and complements it with institutional leasing partnerships (e.g., Stream Realty Partners) and joint-venture capital partners (Meridian Capital, Farpoint Development, Annenberg Investment).

The business model is a hybrid of property development (acquisition, repositioning, and disposition of assets, generating one-time gains) and recurring rental income from owned and operated properties, supported by property management fees. Revenue mechanics are project-based and lumpy, reflecting the timing of acquisitions, lease-up, refinancing, and eventual sales. The firm structures project financing through a mix of conventional debt, public subsidies (Tax Increment Finance awards, WHEDA's WPLP), New Markets Tax Credits, and joint-venture equity, requiring sophisticated navigation of municipal, state, and federal regulatory frameworks. Distribution is direct: Baum Revision leases space to tenants through its in-house team and broker partners, and markets projects via its website, social media, and earned coverage in regional and trade press.

Governance is concentrated among its founding principals — David Baum (Managing Principal), Scott Goldman (Principal), Mark Waligora, and General Counsel Talia Lissner — supported by Wesley Oaks' affiliated Oculus Construction Management. The firm is organized as Baum Revision, LLC, domiciled in Illinois, and operates without disclosed parent-company ownership or external institutional investment.

Name

Baum Revision

Legal name

Baum Revision, LLC

Website

https://baumrevision.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Baum Revision is a Chicago-based private real estate developer that acquires and repositions historic and underutilized properties into LEED-certified, mixed-use environments serving retail, healthcare, education, F&B, and creative-industry tenants across 11 U.S. states.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Residential Remodelers (236118), New Housing For-Sale Builders (236117), Residential Building Construction (23611), Lessors of Nonresidential Buildings (except Miniwarehouses) (53112)

SIC

General Bldg Contractors - Nonresidential Bldgs (1540), General Bldg Contractors - Residential Bldgs (1520), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Urban Renewal, Brownfield Redevelopment & Land Reuse (BPAIANAI)

akta.pro secondary industries

Renovation, Remodeling & Tenant Improvements (General Contracting) (IMAFAAAE), Full Gut Renovation (Studs-Out Remodel) (HSAPAEAA), Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ)

Keywords

• Adaptive reuse development
• Historic preservation
• Mixed-use real estate
• Sustainable building
• Commercial property development

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Property Development: Baum Revision acquires, develops, and redevelops real estate properties. Revenue is generated through the appreciation and eventual sale of developed properties, as well as through leasing commercial and residential spaces to tenants.
2. Property Management: The company manages its portfolio of properties through an in-house property management team, generating recurring revenue from tenant leases.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Baum Revision acquires, develops, and redevelops real estate properties with a focus on historic preservation, adaptive reuse, and LEED-certified sustainable development. The company transforms blighted and underutilized buildings into mixed-use, multi-tenant developments and manages its portfolio through an in-house property management team. Revenue is generated through appreciation and eventual sale of developed properties, as well as recurring tenant lease income.

Product overview

Baum Revision is a real estate development company operating a portfolio of signature adaptive reuse projects and market-driven investments across commercial, mixed-use, residential, and industrial property types. The company's signature projects include Ramova Theater (historic theater redevelopment), Green Exchange (LEED Platinum green business campus), Garver Feed Mill (historic food production center), PrimeCare Community Health (healthcare facility), Workshop 4200 (creatorspace), and Vandalia Tower (makers campus). Market-driven projects span office/flex buildings, multi-tenant campuses, and specialized properties including Wampum Underground storage facilities and Getaway micro-cabin partnerships. The company focuses on historic preservation, adaptive reuse, and sustainable development across multiple U.S. markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Ramova Theater Adaptive reuse of a 1929 historic theater into a live performance venue with 1,800-person capacity, on-site brewery/tap room, and Ramova Grill restaurant in Chicago's Bridgeport neighborhood.
• Green Exchange The country's largest LEED Platinum certified commercial real estate development designed for green businesses, featuring 272,000 square feet of mixed-use space with office, retail, incubator lofts, sky garden, urban farm, and on-site restaurant in Logan Square, Chicago.
• Garver Feed Mill Historic restoration of a 1906 sugar beet factory into a 55,000+ square foot next-generation food production center, wellness center, and community/events space in Madison, Wisconsin, housing eleven locally-owned businesses.
• PrimeCare Community Health Inc. Development of a 16,000+ square foot Federally Qualified Health Center providing healthcare, dental care, and behavioral health services to medically underserved populations in Chicago's Belmont-Cragin neighborhood.
• Workshop 4200 Redevelopment of the former Hammond Organ Factory into a 145,000 square foot community-oriented creatorspace in Chicago's Hermosa neighborhood, home to over 30 creative tenants.
• The Marmon Building Historic renovation of a 1922 automotive showroom (first outside Detroit) into a 104,000 square foot multi-tenant commercial building in Chicago's Motor Row District.
• Block 44 Transformation of a series of 22 commercial buildings in downtown Boise, Idaho into 87,000 square feet of boutique retail and mixed-use office space, including the LEED Gold certified Mode Building.
• Margie's Candies Building Redevelopment of a 1917 historic bank building into a 29,000 square foot mixed-use residential and commercial project featuring twenty apartments and commercial space in Logan Square/Bucktown, Chicago.
• Rockwell on the River Redevelopment of a 111,814 square foot commercial building into a platform for artisan food production businesses with event space along the Chicago River in Avondale.
• Workshop St. Johns Redevelopment of the former Portland Woolen Mills production facility (200,817 SF) into a makers campus in Portland, featuring interconnected buildings with creative tenants.
• Vandalia Tower Redevelopment of a former King Koil Mattress Factory (203,773 SF) into a diverse makers campus for artists and creative users in St. Paul, Minnesota.
• Norwood Approximately 240,000 SF office/flex building formerly part of the Polaroid Campus, currently occupied by a single tenant.
• Riverview at Roscoe Repositioning of a LEED Platinum certified building from single-user office to multi-tenant, multi-functional campus along the Chicago River, featuring education, medical, and events programming.
• You Are Beautiful HQ Headquarters for artist Matthew Hoffman's 'You Are Beautiful' project at 3368 N Elston Ave, featuring retail storefront and studio space.
• Getaway Portland/Virginia Lodging environments in partnership with Getaway House, featuring micro-cabin communities within a few hours of major cities for urban escape and nature connection.
• Duluth Trading Company 14,500 square foot free-standing retail store in Hoffman Estates, Illinois, designed as a classic pull barn format for national rollout.
• Wampum Underground 2.5 million square foot underground storage facility in Wampum, PA, featuring limestone mine space for material storage, warehouse storage, and seasonal recreational vehicle storage.

Quantifiable outcome

• Over $350MM capitalization on 100+ projects totaling 5.4MM square feet across 11 states
• +3 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered major and core.

• Farpoint DevelopmentmajorStrategic or Co-development Partner · 1 February 2022Farpoint Development, a Chicago and Asheville-based real estate company, partnered with Annenberg Investment and Baum Revision on the joint venture to redevelop Easley's Arial Mill property in South Carolina into a mixed-use development community.
• Stream Realty PartnerscoreChannel Partner/ Reseller/ Distributor · 1 March 2020Stream Realty Partners' Chicago office secured a long-term lease on behalf of Baum Revision with Kids' Work Chicago Too for 30,635 SF at Riverview at Roscoe. Stream serves as the exclusive leasing broker for certain Baum Revision properties.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Related Companies: Large national developer of mixed-use, affordable, and commercial real estate (e.g., Hudson Yards, The 78); competes in the same broad urban mixed-use category with far greater capital scale.
• Trammell Crow Company: One of the largest commercial real estate developers in the U.S. with mixed-use, office, and adaptive reuse projects; broad incumbent competitor with significantly larger capital base.

Direct peers

• CA Ventures: Chicago-based real estate investment and development company with mixed-use, student housing, and adaptive reuse projects, sharing the Midwest origin and diversified property type approach.
• Magellan Development Group: Chicago-based developer of large mixed-use and master-planned communities including Lakeshore East; comparable in scale of multi-tenant, mixed-use urban developments in the Midwest.
• L3 Capital: Chicago-focused commercial real estate investment and development firm pursuing value-add and adaptive reuse opportunities, comparable in target market and deal profile to Baum Revision.
• Jonathan Rose Companies: Mission-driven real estate developer focused on sustainable, affordable, and historic preservation projects nationally; comparable in ESG/triple-bottom-line approach and adaptive reuse expertise.
• Fifield Companies: Chicago-based real estate developer focused on multifamily, mixed-use, and urban in-fill projects; comparable in Midwest urban development focus and project scale.
• Sterling Bay: Chicago-based real estate developer known for large-scale adaptive reuse projects (e.g., Fulton Market district), directly comparable to Baum Revision's Midwest-focused adaptive reuse and mixed-use strategy.
• Farpoint Development: Chicago and Asheville-based real estate development firm and Baum Revision's JV partner on the Easley Arial Mill project; directly comparable in adaptive reuse and mixed-use development focus.

Emerging players

• Cinnaire: Mission-driven Community Development Financial Institution (CDFI) providing NMTC, LIHTC, and real estate development financing; intersects with Baum Revision as both capital provider and developer of community-oriented projects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/BaumRevision
• Instagraminstagram.com/BaumRevision

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Baum Revision