311 W. Monroe Ready for a Gut Rehab

CHICAGO—Seven months after acquiring 311 W. Monroe, GlenStar Properties is ready to kick-off a major re-development of the 380,000 square-foot office tower. The West Loop property was built in 1969 as the headquarters for BMO Harris Bank. But the bank departed in December, leaving the building 18% leased to a mix of short-term tenants.

“Right now you can walk past the building and not even know it’s there,” GlenStar managing director Christian Domin tells GlobeSt.com. “But we’re going to do a full-gut renovation, including an expansion of the lobby and putting in a canopy on Monroe.” Most dramatically, the company plans to re-skin the building with a new, energy efficient glass envelope that will give new tenants floor-to-ceiling windows. In addition, the building will get a new fitness center, a video conferencing center and other amenities now considered standard for a class A property.