Tankless water heaters, also known as on-demand water heaters or instantaneous water heaters, are innovative appliances designed to provide hot water as needed WITHOUT the use of a storage tank. Unlike traditional water heaters, which continuously heat and store water in a large tank, tankless water heaters heat water only when there is a demand for it, such as when a faucet is turned on or an appliance requiring hot water is activated.

The 83-unit, 4½-story building, 1800 W. Bethune St., is set to reopen Feb. 1 as the Bethune Lofts with asking rents on the lower end of what is typically found in newly built or rehabbed buildings in the city. The building also features unique and energy-saving heat pumps for heating and cooling in its apartments that are more commonly found in Europe, although starting to catch on in North America.