An 11-story Uptown office building formerly home to the Combined Insurance Company of America is slated for apartment conversion, writes Crain's. New owner Imperial Realty senses a growing demand for rentals as younger people congregate in the neighborhood, a known oasis from high rents. Supply is still holding steady, unlike in downtown areas, but that may soon change. Imperial's gamble is keeping costs from exceeding "achievable rent" in the 130-unit build out. The other 6-story buildings in the modernist North Broadway complex will remain in use as offices with a retail component. And the 625-space parking deck should appease everyone. [Crain's]
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