CHICAGO — A joint venture between Leopardo Cos. and GMA Construction Group has broken ground on 79 W. Monroe, an office-to-multifamily conversion project in Chicago. The project will comprise the transformation of the Rector Building, a 14-story commercial asset in The Loop, into a mixed-use community.
The property was originally built in 1905 and is the oldest surviving commercial structure designed by Chicago architect Jarvis Hunt.
The renovation project includes converting seven floors to create 117 apartments, with 41 units designated as affordable housing. The property will also feature a lobby and an indoor-outdoor amenity floor, including a tenant lounge, fitness center, outdoor areas, bike storage, a dog wash station and gaming room.
Preservation and building landmark efforts will focus on retaining and repairing the building’s exterior masonry, including brick, stone and terra-cotta elements. The existing single-pane windows will also be replaced with double-pane insulated glass to enhance energy efficiency and reduce costs for future tenants.
Ware Malcomb is providing architecture and interior design services for the development. The project team includes developer R2 Cos. and building owner Lagfin. 79 W. Monroe marks Chicago’s first office-to-multifamily conversion under the city’s LaSalle Street Reimagined initiative, according to Ware Malcolmb.