“Landmark status and tax incentives have been approved for the mixed-use redevelopment of 111 West Monroe Street in The Loop. Located at the corner of South Clark Street near Chase Tower, the two-building complex is the latest to receive such status as part of the broader LaSalle Street Reimagined initiative.
“The former Harris Bank complex consists of the original 1911 brick-clad structure, which received landmark designation, and an adjacent 1958 metal-clad expansion.
“Both buildings rise 24 stories in height. Together, they are being redeveloped by Capri Investment Group and The Prime Group, with Stantec leading the design.
“The newly landmarked 1911 building will undergo façade repairs, gain a new side courtyard carved from the structure, and house the hotel’s ground-floor lobby and restaurant.
“The adjacent expansion will retain its corner retail space while converting the former office lobby into residential use. A car elevator will serve a 130-space underground garage.
“The second floor will be transformed into a large event center featuring 16,000 square feet of ballroom space. The 226-room hotel will occupy most of the lower levels of both buildings, with amenity areas on the 11th and 12th floors.
“Both residents and visitors can also enjoy the reopened Monroe Club on the top two floors, which will operate as a restaurant with a rooftop pool deck and bar.
“The overall project is expected to cost $286.7 million, with $107.5 million allocated to the hotel and $179.2 million to the residential portion.” (Achong, Chicago YIMBY, 7/6/25)
Preservation Chicago thrilled to see this important building landmarked and redevelopment project moving forward. Preservation Chicago has been working closely with Capri Investment Group and The Prime Group to support this adaptive reuse project. We’ve testified many times in support of Chicago Landmark Designation, Class L and other development requirements.
Read the full story at Chicago YIMBY
- Residential And Hotel Conversion Of 111 W Monroe Street Moves Forward, Ian Achong, Chicago YIMBY, 7/6/25
- Five Prominent Chicago Office-to-Residential Conversions;These five developments are expected to add a total of 1,400 units in downtown Chicago, Tudor Scolca, Multi-Housing News, 6/30/25
- City Council approves city funding for 111 W. Monroe; $40 million in TIF will support the adaptive reuse of the historic building, Lukas Kugler, Urbanize Chicago, 4/24/2025
- 2 More LaSalle Street Buildings To Be Converted Into Apartments After City Council Approves Funding; The adaptive reuse projects are slated to receive $65 million in tax-increment financing and will bring 571 apartments to the financial corridor, Melody Mercado, Block Club Chicago, 4/16/25
- Landmarks approves Class L for 111 W. Monroe; The tax incentive would help finance the adaptive reuse of the historic building, Lukas Kugler, Urbanize Chicago, 3/26/2025