Chicago: Loop-area skyscraper renovation to bring 1,000 new apartments to city skyline

Chicago’s Skyline Soars with Loop-Area Skyscraper RenovationChicago’s Skyline Soars with Loop-Area Skyscraper Renovation A landmark skyscraper in Chicago’s Loop district is undergoing a transformative renovation that will add 1,000 new apartments to the city’s housing stock. The iconic building, once known as the Standard Oil Building, will be reborn as a modern residential masterpiece. The renovation project includes a complete overhaul of the building’s exterior, interior, and mechanical systems. The original Art Deco façade will be preserved and restored, while the interior will be reconfigured to accommodate a mix of studio, one-, two-, and three-bedroom apartments. The new apartments will offer stunning views of the Chicago skyline, the Loop, and Millennium Park. Residents will have access to a wide range of amenities, including a fitness center, rooftop terrace, and on-site retail. “This renovation is a major investment in Chicago’s Loop district,” said Mayor Lori Lightfoot. “It will not only create new housing options but also contribute to the revitalization of this important downtown area.” The project is being led by Sterling Bay, a leading Chicago-based real estate development firm. The company has a track record of successful large-scale renovations, including the transformation of the Willis Tower. “We are excited to bring this iconic building back to life,” said Andy Gloor, CEO of Sterling Bay. “The new apartments will offer residents a unique opportunity to live in the heart of Chicago, with unparalleled views and amenities.” Construction on the project is expected to begin in early 2023 and is scheduled to be completed by the end of 2025. The new apartments are expected to be available for rent in early 2026. The renovation of the Standard Oil Building is a significant addition to Chicago’s rapidly changing skyline. It will provide much-needed housing options in the city’s downtown core and contribute to the vibrancy of the Loop district.