The Chicago Plan Commission on Thursday approved the conversion of the Graphic Arts Building at 1006 South Michigan Avenue in the South Loop from offices to residential use. The project required a change to Business Planned Development No. 1323, which includes the newly-opened 1000M residential tower next door at 1000 South Michigan. All three members of that development team, including JK Equities, Time Equities, and Oak Capitals, are the trio working on the residential conversion. FitzGerald is the design firm for the project.
Ground floor plan via FitzGerald
Site plan for 1006 South Michigan, via FitzGerald
The approval allows the developers to build 49 loft-style residential units. Chicago’s ARO regulations require 10 units to be set aside as affordable. Instead, there will be five affordable on-site units, and a $1.29 million payment will be made to the Affordable Housing Opportunity Fund in lieu of the other five units. Three affordable units will be designated for those earning at or below 60 percent Area Median Income, one at 50 percent AMI, and one at 40 percent AMI.
Typical floor plan, via FitzGerald
Roof plan, via FitzGerald
The unit breakdown consists of 21 one-bedroom units and 28 two-bedroom floor plans. Each floor from the second level to the eighth floor will contain seven units; three one-bedrooms and four two-bedrooms.
There will be approximately 4,400 square feet of retail space returning to the first floor; it had been empty for most of the 2010s until it was used as a sales center for 1000M. Also included at ground level will be a residential lobby with a CTA digital data display screen for commuters, a resident lounge, separate rooms for small and large packages, and a small office for the building.
1006 South Michigan Avenue, dwarfed by its next-door neighbor 1000M. Photo by Daniel Schell
Photo by Daniel Schell
Also known as the Lightner Building, 1006 South Michigan was designed by architect Edmund Krause and completed in 1904. It is a contributing building to the Historic Michigan Boulevard District; since it is an existing building in a Chicago Landmark district, no vehicular parking is required for the renovation. Therefore, no parking will be included, although storage for 50 bicycles will be available on the first floor.
The application for approval states no changes are being made to the exterior of the building, though the south façade includes gaps and spaces that must be closed to keep the building in compliance with fire codes. The Orange-rated historic façade cannot be brought into full compliance with bird-friendly guidelines, but the lack of rooftop landscaping and breaks/features in the façade, as well as dark-sky compliant exterior light fixtures, will help mitigate bird collisions.
Looking west across Grant Park. Photo by Daniel Schell
Hopefully the ghost signs remain, but the tagging can be removed. Photo by Daniel Schell
At Thursday’s Plan Commission meeting, JK Equities Principal Jordan Karlik expressed hope that they can get the residential conversion underway in the first quarter of 2026. The office building currently has an occupancy rate of about 45 percent, and none of the tenants had planned on renewing their leases. He estimates the total cost of the project to be in the $28 to $30 million range.
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Great news. How many conversion projects does that now make moving forward in 2026?
Great idea! That block needs to stand out more; this project will set it off!
There won’t be any work done to the historic façade; this is mostly an interior project. You think it will make the block stand out more than the 73-story skyscraper that just opened next door?
I hope they make use of the classic old-school charm of this building and don’t just pave over the interiors. Residential units in this building could be so cool. If you build it they will come!