Chicago City Council approves funding for two Loop office-to-residential projects

Chicago City Council approves funding for two Loop office-to-residential projects

Chicago Construction News staff writer Two historic Loop office buildings will be converted into mixed-income housing through nearly $66 million in city subsidies approved by the Chicago City Council at its meeting last week. The 12 upper floors of the Harris Trust and Savings Bank building at 111 W. Monroe St. will be transformed into 345 apartments as part of a $179.2 million project led by Prime Group and Capri Interests LLC. The plan include…

Essex Realty Sells 37-Unit MF Building in Ravenswood

Essex Realty Group has brokered the sale of a 37-unit courtyard-style apartment building located at 4901-11 N. Wolcott Avenue in Chicago’s Ravenswood neighborhood. The multifamily property, built in 1930 and renovated in 2011, was marketed at $6.6 million. Essex Principals Jim Darrow and Jordan Gottlieb represented the seller, while Essex Director Abe Eilian represented the buyer, a local investor. The building includes a mix of studio, one-bedr…