Mayor Brandon Johnson, Alderman Bill Conway and city officials — including Deputy Mayor Kenya Merritt, Department of Planning and Development Commissioner Ciere Boatright and Department of Housing Commissioner Lissette Castañeda — joined Lagfin, R2 Companies, and community leaders to break ground on 79 West Monroe, a landmark development that will set a precedent as Chicago’s first office-to-residential conversion. This innovative project will transform the historic Rector Building, the oldest surviving commercial high-rise designed by renowned architect Jarvis Hunt, into a dynamic residential space, addressing the growing demand for housing in the Loop. The renovation will add 117 new apartments to the Loop, offering a mix of market-rate and affordable housing. Notably, 79 W. Monroe will set a new standard for affordability in the LaSalle Street corridor, with 35 percent of its units (41 out of 117) designated as affordable housing. The project is spearheaded by Lagfin and Chicago-based developer R2. Lagfin, as the holding company of Campari, has made significant investments in Chicago-based projects — their largest stake in any North American city.

Photo Rendering Courtesy of City of Chicago