Hotel Conversion Progresses Rapidly at Landmarked 226 W Jackson Boulevard in The Loop
Construction is making headway at The Loop‘s 226 W Jackson Street. Owner Phoenix Development Partners is converting the 15-story office building into a hotel.
Leopardo Construction
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New Hotel Conversion Is Underway at 226 W Jackson Boulevard in The Loop
Work is currently underway on the conversion of the historic 15-story office tower at 226 W Jackson Boulevard in The Loop. The building is the former headquarters of Chicago & North Western Railway and most recently was the headquarters building for City Colleges of Chicago. Located at the northeast corner of W Jackson Boulevard and S Franklin Street, the edifice is across the street from the Willis Tower, formerly Sears Tower. Phoenix Development Partners is in charge of this development, with an estimated development cost of $136 million, which includes the property acquisition cost of $32.7 million.
Construction Begins on 949 W Dakin Street in East Lakeview
Construction has begun on a seven-story mixed-use building at 949 W. Dakin Street in Chicago‘s East Lakeview neighborhood. Located across the street from the Sheridan Red Line station and two and a half blocks north of Wrigley Field, the transit-oriented development replaces a single-story structure. Current tenant Ace Hardware is expected to fill a portion of the 13,000 square feet of retail space that will be located on the lower level of the new edifice. The property and financial services firm Draper and Kramer is the developer of the 120-unit project.
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