The 16-story Insurance Center Building at 330 S. Wells is ready for a big mixed-use makeover. Acquired by Marc Realty exactly one year ago for $10 million, the 1927 Loop office building has been issued a permit to begin its conversation to 132 residential rental units, four levels of remodeled office space, and ground floor retail. The Chicago-based developer has teamed up with architectural design firm NORR for the downtown adaptive reuse project which also includes a basement amenity space and a rooftop deck.
Though 330 S. Wells is not designated a Chicago landmark, the property does feature of number of notable architectural touches such as terracotta exterior detailing and a marble-clad lobby space. The development team aims to restore these and other features to receive historic preservation tax credits. With the exception of window replacements—and the aforementioned roof deck—no other exterior modifications are planned.
The old Insurance Center Building isn’t the only vintage Loop office tower getting a makeover as apartments. Cedar Street Companies is converting the 1925 Hartman Building at 30 E. Adams to residential while CA Ventures plans to bring hundreds of rental units to Chicago’s historic Century & Consumers Buildings at 220 S. State Street and 202 S. State. Meanwhile, Florida-based Dolce Living Communities Residential is in the midst of remodeling the old office structure at 29 S. LaSalle Street into roughly 200 apartments.
- Renovation/alteration permit at 330 S. Wells Street [Chicago Cityscape]
- Could apartments be coming to this Loop office building? [Crain’s]
- Chicago Loop archive [Curbed Chicago]