Ware Malcomb Completes Historic Residential Conversion in Downtown Chicago

Ware Malcomb Completes Historic Residential Conversion in Downtown Chicago
News| November 4, 2026| Jasmine Kilman
Chicago & Midwest + Apartment Buildings

Ware Malcomb announced construction is complete on 79 W. Monroe, an office-to-residential conversion project located in downtown Chicago’s Loop district.

Ware Malcomb’s Chicago office provided architecture and interior design services for the renovation of the historic 14-story building, which included transforming seven upper floors of vacant office space into 76 market-rate and 41 affordable apartment units, along with ancillary amenities.

Built in 1905 and historically known as the Rector Building, the masonry high-rise is the oldest surviving commercial structure by Chicago Architect Jarvis Hunt. R2 Companies and Lagfin, the building’s owner, developed the project – the first completed under the City of Chicago’s ‘LaSalle Street Reimagined’ initiative. Construction services were provided by a joint venture of Leopardo Companies and GMA Construction Group.

“Our team is proud to have a role in reimagining this 120-year-old landmark building and participating in the current economic renaissance within our Downtown Chicago community,” said Mark Schwamel, Director, Interior Architecture & Design, Ware Malcomb.

Other News

Affinius Lends $226M on Newly Completed Brooklyn Rental Tower

New York & Tri-State + Apartment Buildings

Affinius Capital LLC has originated a $226-million loan to refinance 55 Willoughby (marketed as House 55), a Class A, 295-unit, 43-story multifamily property with 3,200 square feet of ground-floor retail located in Downtown Brooklyn. The loan was made to a joint venture between Lonicera Partners and Rabina. Proceeds will bridge the property to stabilization early...

Learn more

Northmarq Arranges $17M Sale, $14M Acquisition Financing for Omaha MF

Chicago & Midwest + Apartment Buildings

Northmarq’s Midwest Multifamily Investment Sales team of Parker Stewart, Anthony Martinez, Dominic Martinez and Alex Malzone, with Jim Gibson, brokered the $9.4 million sale of Southfield Apartments. The 84-unit multifamily complex was built in 1993 and is located at 7009 S 83rd St. in La Vista, Nebraska. Northmarq represented the seller, an Omaha-based private investor in...

Learn more

Boutique Arlington Heights Apartments Sell for $25M

Chicago & Midwest + Apartment Buildings

JLL has arranged the $25 million sale of FourNorth Apartments, a 76-unit boutique apartment community in Arlington Heights, Illinois. JLL worked exclusively on behalf of the seller, Benchmark Developers, in the sale of the property to a private investor. JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Bill Baumann,...

Learn more
New call-to-action

Brokers

View All

Lenders

View All