Initial details have been revealed for the residential conversion of 65 E Wacker Place in The Loop. Located west of the intersection with N Michigan Avenue and around a block from the Chicago River, the new plans aren’t the first time a conversion has been proposed for the nearly 100 year old structure.

Originally built in 1928 and designed by Rissman & Hirschfeld, which later became FitzGerald Associates, the 24-story high-rise was originally known as the Millinery Mart Building. The building was inspired by nearby Merchandise Mart and built to house a large percentage of a certain industry, eventually housing more than one-third of the city’s hatmakers.

Since then it has served mostly as an office building with Morton’s The Steakhouse on the ground floor. However with high vacancy rates, the previous owner returned the building’s deed in-lieu of a foreclosure to its lender Acres Commercial Realty, squashing plans for a 144-unit conversion. However now Acres has partnered with Mavrek Development for a new proposal.

Those plans call for an even larger redevelopment, set to bring more than 200-units to the building made up of studios, one-, and two-bedroom layouts. These will have an emphasis with in-unit workspaces, with the building receiving various upgrades and amenities like a coworking lounge, fitness center, and rooftop deck.

As an architect is currently unknown, further renderings or plans have not been revealed. A construction timeline is also unknown. But once completed it would join many similar projects nearby including the entirety of the LaSalle Street Reimagined program.

Find out more at Chicago YIMBY