CHICAGO—Even though downtown Chicago has a worldwide reputation for great architecture, many of its treasures suffer from neglect and disinvestment. But an increasing number of businesses believe that occupying historically-significant space can bring a type of prestige that modern office buildings don't provide and have decided to restore some older buildings to their former glory.

Back in 2006, for example, J&J ARNACO LLC, headed by Jennifer N. Pritzker, acquired the Monroe Building at 104 S. Michigan Ave. and began planning a full-scale renovation that would eventually bring the aging structure into the 21st century and simultaneously restore its lost elegance. BOMA/Chicago recently honored the company's efforts with its 2014/2015 TOBY Award for best historic building.

Completed by Holabird & Roche in 1912, the Monroe Building once attracted tenants like Frank Lloyd Wright. By 2006, however, it had sunk to class C status, and its owner intended to convert the now-dated office building into condominiums and parking spaces, a plan which would have wiped out many of its distinctive features.

But Pritzker wanted to find a home for the Pritzker Military Museum & Library, and a historic Michigan Ave. location seemed ideal, building manager Paul Rades tells GlobeSt.com. J&J ARNACO LLC made the owner an unsolicited offer and according to Cook County property records paid $31.2 million for the 16-story structure.

“The original intention was to make it exactly as it was 100 years ago,” Rades adds. The company hired architects Holabird & Root, the successor firm of the original designers, to recreate exterior and interior elements while renovating tenant spaces and infrastructure.

The team quickly found that, like many historic buildings in the CBD, the Monroe had undergone misguided renovations in the 1950s and 1960s which covered up its artistic flourishes with drywall and drop ceilings. “The building started dying then,” Rades says, and reviving it required what he calls “an archeological dig. We were literally digging out behind slabs of marble and drywall.”

In the end, an exact restoration was not possible since over the years many pieces were torn out, and furthermore, the needs of office users has changed dramatically in the last century. Many users back then occupied only 500-square-feet, and Pritzker wanted to offer new tenants the chance to occupy full floors.

However, the firm was able to fully restore one of the floors with original pieces, and Rades says someone stepping off the elevator there will enter a space that looks just as it did 100 years ago. “On the other floors we gave a nod to that history.”

The Monroe needed more than an interior makeover. “It did not have modern mechanical systems,” Rades explains. The staircases were not up to code, it did not have modern restrooms and much like other century-old office buildings, the women's restrooms were all afterthoughts.

But starting in 2007 or 2008, Holabird & Root began filling in an obsolete lightcourt, adding space for tenants, utilities and amenities. This project added about 20,000-square-feet to the tower, essentially adding a “new high-rise building inside an existing high-rise building.”

The firm finished in 2012, and Rades says the Monroe now has all the features of a modern business environment, including a full-service data center, fitness center, and bicycle storage and conference facilities. The Pritzker Military Museum & Library occupies about 40,000-square-feet and a new set of tenants, including architects, a law firm, and publishers, replaced many of the medical offices that used to occupy the spaces.

Rades does not expect Pritzker to put the building up for sale. He calls her a dedicated preservationist who launched the project due to a love of architecture. “It's a long-term hold.”

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.