Grafft Real Estate

Mavrek Development and Acres Capital are proposing to convert the office building at 209 W. Jackson Blvd. into approximately 180 apartments.

The 12-story building was originally constructed in 1896 and is currently about 70% vacant. The project is expected to cost roughly $90 million and could be completed in 2029.

The development joins a growing list of Chicago office conversion projects, including 65 E. Wacker Place, as developers respond to high downtown apartment demand and elevated office vacancy rates.

Projects like this, along with the LaSalle Street Reimagined initiative, are adding hundreds of new residential units to downtown Chicago and reshaping the future of the Chicago Loop.

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Source: Crain’s Chicago Business
Image Source: CoStar Group