Chicago — Built in 1894, the Old Colony building will retain many of its architectural elements. MCJ Development is a partner on this project.
Chicago — CA Student Living and MCJ Development, headed by Chicago developers Keith Giles and Mike Moyer, have acquired the landmarked structure known as the Old Colony building in the Chicago Loop area. The firms are planning a full-gut rehab conversion into student apartments.
The new apartments will be fully furnished and feature open floor plans with wood grain flooring, European style kitchens, stainless steel appliances and flat screen TVs. The building will also include a 24/7 WiFi study lounge with coffered ceilings and health club-like fitness center on the second floor as well as a private residents-only rooftop event space with outdoor grilling terrace and panoramic city and lake views.
The 17-story Old Colony building, designed by famed Holabird and Roche Architects, was constructed in 1894 and most recently operated as partially occupied office building.
The Old Colony building is known for its rounded corner bays, a feature of many early skyscrapers and stands as a part of a historic stretch of early Chicago skyscrapers including Monadnock, Fisher and Manhattan buildings.
The Old Colony building was the first high-rise to use a system of internal portal arches as a means of bracing the structure against Chicago’s high winds. Many of these historic arches, along with an ornate coffered ceiling, limestone central staircases and marble walled barber shop will be refurbished as part of landmark preservation efforts.
CA Student Living is also currently performing a full gut rehab and conversion into student apartments a few blocks away at the former Gibbons and Steger buildings (now called Infinite) located at Jackson and Wabash, which expects to open its doors later this August.
McHugh Construction was hired as the general contractor and Pappageorge Haymes is the architect of record.
Delivery of the Old Colony project is scheduled for completion by August 2015.