The Brief
A joint venture is turning the upper floors of 111 West Illinois Street into 153 luxury apartments.
Construction begins this summer, with opening expected by summer 2026.
The $64 million project is privately funded, adding new housing without taxpayer cost.
CHICAGO - A joint venture is turning part of a former Salesforce building in Chicago’s River North neighborhood into 153 new luxury apartments.
What we know
Path Construction Central and WindWave Real Estate have acquired the upper stories of 111 West Illinois Street for a $64 million redevelopment.
AdvertisementAdvertisement#«R16ekkr8lb2m7nfblbH1» iframe AdvertisementAdvertisement#«R26ekkr8lb2m7nfblbH1» iframeBacked by Chicago-based Landrock LP, the project will convert the space into luxury residences featuring oversized windows, 10-foot ceilings, and views of the city skyline.
The 10-story building was previously home to Salesforce’s Chicago headquarters and WeWork’s first Chicago location. The ground-floor retail—currently occupied by Roka Akor and Tarry Coffee—was also acquired and will continue operating. However, the second through fourth floors remain owned by the Erikson Institute.
111 W. Illinois St. | ProvidedDig deeper
The joint venture says this is the first residential construction project in Chicago since 2023 that does not involve public subsidies.
AdvertisementAdvertisement#«R1cekkr8lb2m7nfblbH1» iframe AdvertisementAdvertisement#«R2cekkr8lb2m7nfblbH1» iframeBuilding amenities will include an indoor-outdoor fitness and wellness center, a hospitality lounge, an outdoor terrace with grilling stations and fire pit, a coworking space converted from former WeWork offices, a pet spa, and indoor bike parking.
What they're saying
"This is a thoughtful redevelopment that reflects how buildings can evolve for the next generation," said Ric Krause, President and CEO of Path Construction. "Our development team is excited to deliver a concept that blends lifestyle and location in a way that few projects can."
"We're thrilled to launch this incredible redevelopment—not only because it's a rare opportunity to provide new luxury residences well below replacement costs, but because it is the kind of bold, forward-looking work we want to be known for," said Jon Cordell, Managing Partner of WindWave Real Estate. "We believe in the long-term future of Chicago, and this project puts us at the forefront of creative value creation for our partners and the City, when local multifamily fundamentals are leading the nation."
What we don't know
The developers have not yet released details about floor plans, unit layouts, and apartment pricing.
What's next
Construction was set to begin in June, with the apartments opening for residents by summer 2026.
The Source
The information in this article was provided by Path Construction Central and WindWave Real Estate.
