A 41-story Chicago Loop building facing foreclosure has the opportunity for apartment conversion. The Chicago office of CBRE has been hired to list more than 30 floors of the Clark Adams building located at 105 West Adams Street in the Loop. Owned by Blackstone and local developer Musa Tadros, the brokerage is advertising prospects for it to become apartments.
The Department of Cultural Affairs and Special Events has announced the completion of the restoration of the Grand Army of the Republic rotunda and hall in The Loop. Located within the Chicago Cultural Center at 78 E Washington Street, the 125-year-old dome and hall were completed in 1897 in what was then the city’s main public library after the Great Chicago Fire of 1871. Thanks to a large special grant, the city was able to partner with Harboe Architects and Daprato Rigali studios to execute the year-long process that deployed cutting edge technology to peel back the layers to the building’s past.
The Commission on Chicago Landmarks has approved the final certification for tax incentives for the Chicago & North Western Railway Office Building at 226 W Jackson Boulevard in the heart of downtown The Loop. The historical building recently went through a full rehab converting it into a dual-flag Hilton hotel, located on the corner of Jackson Boulevard and S Franklin Street. The approval grants the project a Class L Property Tax Incentive which will provide it with tax breaks for the next 12 years.
The Chicago City Council has approved the rezoning for a potential commercial development at 401 S Wacker Drive in The Loop. The wedge-shaped lot is bound by W Van Buren Street on the north, S Franklin Street to the east, and W Ida B. Wells Drive to the south with the Chicago River being just west of the site. The property is currently improved with a large cooling plant and adjacent parking lot owned by Centrio Energy, who began serving the Chicago area in 1995 under their previous name Enwave.
Final glass pieces are being installed for 300 N Michigan Avenue, a 47-story mixed-use skyscraper in The Loop. Co-developers Sterling Bay and Magellan have planned for a retail base, a 280-key citizenM hotel on the lower levels, and 289 rental apartment units on the upper floors.