Prime Group prepares $130 million Loop building office-to-residential conversion project

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Chicago Construction News staff writer

New renderings have been released for an office-to-residential adaptive reuse project at 208 S. LaSalle St. in Chicago’s Loop. The historic 1.2 million sq. ft. office building was built in 1914 and was designed by Chicago architect D.H. Burnham & Co. in the Classical Revival style for the Continental and Commercial National Bank.

The project will cost about $130 million, and The Prime Group plans to start construction in early 2025.

The property will be repurposed as market-rate and affordable residential units under the City of Chicago’s LaSalle Corridor Revitalization initiative.

The developer aims to renovate 222,500 sq. ft. of office space into 226 apartments and a new ground-floor lobby, fitness area; club-inspired tenant lounge spaces supporting coworking, meetings and social events; and penthouse-level community terraces with an outdoor pool and gathering areas.

Designed by Lamar Johnson Collaborative (LJC) and Lucien Lagrange, the conversion will also upgrade all older mechanical systems with modern energy-efficient equipment and replace the existing single-pane windows with high-performance insulated glass.

“In addition to breathing new life into an under-utilized Chicago landmark, The LaSalle Residences will help bring back some of the 24/7 vibrancy to Chicago’s downtown financial district lost during and after the COVID pandemic,” said architect Alan Barker, principal and residential market leader at LJC. “The Loop is an amenity-rich area, but continued foot traffic is key to retaining and attracting retail business. Converting office space to 226 units at 208 LaSalle St. will not only enhance the built-in customer base for downtown retail and amenities, but it will also preserve a piece of Chicago’s architectural history.”

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