Chicago Construction News staff writer
A groundbreaking ceremony was held at 79 W. Monroe St., where vacant office spaces will be converted into housing to revitalize the LaSalle Street corridor.
“This is an exciting announcement and I’m very proud and humble that we’re collectively here today to ensure the people of Chicago that our status as a global city has not been lost,” Mayor Johnson said.
Multiple floors of the historic Rector Building be transformed into 117 apartment units, 35% of which will be affordable housing.
The $64 million dollar project also includes a fitness center, a lounge and a roof deck.
“You’ll see the historic façade from across the rebuild Chase Plaza, down the block from the new Google headquarters below the restored Weather Bell on the coroner,” said Ciere Boatright, Chicago Department of Planning and Development commissioner.
There’s also a plan to redevelop nearby 135 S. LaSalle St., 111 W. Monroe St., 208 S. LaSalle St., and 30 N. LaSalle St.
“While Chicago’s downtown continues to recover since the pandemic, there’s still so much more work we can do to ensure all of our neighborhoods continue to grow through equitable economic initiatives and more affordable housing opportunities,” Johnson said.
Construction is expected to be completed within 12-18 months.
