The Morton Salt shed at 1357 N. Elston Ave. would be turned into a concert venue with space for up to 4,000 people under a plan approved Thursday.

A $30 million plan to transform the Morton Salt industrial shed in West Town into a concert venue and dining destination took a leap forward Thursday after earning a unanimous endorsement from the Chicago Plan Commission.

Chicago-based Blue Star Properties and prolific Goose Island developer R2 Companies are proposing to redevelop (O2019-7968) the four-acre site at 1357 N. Elston Ave. along the Chicago River North Branch while keeping the iconic exterior structure intact, even landmarking the building so that the “Morton Salt” logo and umbrella girl illustration remain to greet concertgoers.