Back in February we passed along a Sun-Times report on plans to convert the 22-story tower portion of the landmark Oriental Theatre to 230 loft apartments.

The summer target date for starting the project has come and gone and Crain’s is reporting that a new developer is acquiring the site and plans to convert it to 220 apartments. The target dates for start and completion are early next year and mid-2015, respectively, according to Crain’s.