Chicago’s River North neighborhood is seeing another big change as an old office building is set to become apartments. A real estate company plans to convert a loft-style office property into new housing, responding to how work habits and demand for space have shifted in recent years. With fewer companies needing large office spaces and more people looking to live near downtown, this type of project is becoming more common across the city.
An Old Office Building Gets a New Purpose
The building being converted is a historic loft-style office property that has been around for over 100 years. It was once popular with small offices and creative businesses. Over time, many tenants moved out, leaving large parts of the building unused. The new plan is to transform the space into dozens of apartments while keeping much of the building’s original character.
Why River North Is Seeing These Changes
River North used to be one of Chicago’s busiest office areas. That has changed as remote and hybrid work became more common. Many companies downsized or left entirely, creating high vacancy rates. At the same time, the neighborhood remains attractive for renters because of its restaurants, nightlife, and proximity to downtown. This imbalance makes apartment conversions more appealing than keeping older office space.
Details of the Apartment Conversion
The project will turn the former office floors into about 50 to 60 apartment units. The units are expected to feature loft-style layouts, which fit well with the building’s original design. Construction is planned to begin once the remaining office tenants move out, which is expected later this year. The goal is to have modern living spaces while preserving the building’s historic feel.
Who Is Leading the Project
The developer behind the conversion specializes in turning older commercial buildings into residential properties. They are working with a construction firm that has experience handling similar renovation projects. This team has already completed or planned other office-to-apartment conversions in the same neighborhood, showing confidence in River North’s rental market.
A Growing Trend Across Chicago
This project is part of a larger shift happening throughout downtown Chicago. Many older office buildings are no longer practical in today’s market, especially those without modern layouts or amenities. Converting them into apartments helps reduce empty buildings, adds housing supply, and brings more residents into downtown areas. While not every office building can be converted, many developers see this approach as one of the most realistic solutions to Chicago’s changing real estate landscape.
