The Chicago City Council has approved the conversion of the office building at 500 N Michigan Avenue on the Magnificent Mile. Announced earlier this year, the proposal has sailed through all of its necessary approvals recently and will join various other conversions downtown. The project is being led by Connecticut based Commonwealth Development Partners with GREC Architects.
The Chicago Plan Commission has approved the residential conversion of the office building at 500 N Michigan Avenue on the Magnificent Mile. Located just north of the famed Wrigley Building, the once packed office building has almost cleared the final hurdle towards its conversion. Developer Commonwealth Development Partners now needs approval from the City Council prior to moving forward.
Multiple new retail experiences have been announced along Michigan Avenue as the strip sees an uptick in occupancy from its pandemic lows. Located across the famed shopping street, the new spots both replace vacant spaces and some soon-to-be closed stores. This comes as some major flagships like H&M relocate from their current home as well.
Details have been revealed for the residential conversion of the office building at 500 N Michigan Avenue on the Magnificent Mile. Sitting on the intersection with E Illinois Street and across from the famed Intercontinental Chicago, the mostly vacant structure is going to be redeveloped by Commonwealth Development Partners who just submitted a zoning application.
The Hotel Riu Plaza Chicago is putting finishing touches on the exterior, as the interior progresses ahead of its scheduled opening this summer. The 28-story hotel will feature nearly 390 rooms when it welcomes its first guests, who can wine and dine each other at the 27th-floor bar “The Rooftop” opening in the fall.
