The Historic American Building Survey described the Old Colony Building as “Stately, perfectly proportioned, pure in outline and exquisite in tint … Built to admit all the light of the heavens …” You can see more of the building’s history at designslinger, Architecture Chicago Plus and Chief Engineer.
Building permits were issued on February 20, 2014 for the renovation of the building into 204 residential apartments with ground-level retail space. Occupancy is likely to occur in mid-2015.
The developer of the property is MCJ Development LLC, an affiliate of Keith Giles and Michael Moyer. Pappageorge Haymes is the architecture firm for the renovation and McHugh Construction is the general contractor.
Firm details are not available, but the building is expected to offer a mix of studio and one-bedroom apartments.
The building’s landmark status will ensure that the units do not have private outdoor space.
Views. East-facing high-floor units will have a lake view, but the Old Colony Building’s view corridors are largely blocked by adjacent buildings.
Amenities, services, policies
Details of the Old Colony Building’s amenities package have not been publicly announced.
The Old Colony Building will not have on-site parking, but parking is available almost directly across the street on Dearborn.
The Old Colony Building has a convenient Loop location close to parks, transportation, shopping, schools and major attractions.
There’s a 7-11 convenience store across the street from the building. The closest full-service grocery is the Target at State and Madison, four blocks north of the building.
State Street shops, anchored by Macy’s, are within a few minutes’ walk of the building. The Shops at North Bridge, 50 stores and 20 restaurants anchored by Nordstrom, and other Magnificent Mile shops are a short bus ride away.
Parks, recreation. Grant Park, Chicago’s 319-acre “front yard,” is three short blocks east of the Old Colony Building.
Millennium Park, at the north end of Grant Park, is one of the most exciting and architecturally interesting public spaces in the country.
Pritzker Park, a small plaza with a green space, is just east of the building.
Transportation. Public transportation is outstanding – rather ironic for a building in a great walk-to-work or school location.
The Old Colony Building is within a block of six CTA train lines, and 3 short blocks from a seventh.
A large number of CTA bus routes criss-cross the area.
The Old Colony Building’s most direct competitors are likely to be Randolph Tower, the Fisher Building and MDA City Apartments. It will also compete with student housing options available in the immediate area.
You can see more Loop housing options at our at-a-glance list of downtown apartments.
Rentals are typically available in a number of nearby condo buildings, sometimes at sharply lower rents than in managed apartment buildings.
You’ll find advice and tips at YoChicago’s Guide to renting in Chicago’s Loop / New East Side.
Old Colony Building in the news
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Old Colony Building going residential Developer plans to convert Old Colony Building to apartments The Old Colony Building
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