Historic Wacker Place Tower Reveals First Glimpse of Luxury Apartments Coming to The Loop This Summer

By Socialhood News · Il/Chicago/The Loop · February 11, 2026

The Loop's architectural renaissance continues as developers share the first interior renderings of the highly anticipated Wacker Place residential conversion, set to welcome its first residents in summer 2026. The 25-story art deco tower at 65 E. Wacker Place, originally built in 1928 as the Millinery Mart Building, is undergoing a $90 million transformation from office space into 252 luxury apartments across floors 4-24.

The project team, led by Mavrek Development and ACRES Capital with McHugh Construction serving as general contractor, is meticulously preserving the building's historic façade while creating modern living spaces designed for today's urban lifestyle. "Projects like Wacker Place demonstrate the potential of adaptive reuse to reenergize Chicago's historic core," said Adam Friedberg, CEO of Mavrek Development. Future residents can look forward to amenities including a coworking lounge, fitness center, and a rooftop deck offering sweeping skyline and Chicago River views. The building's prime location provides walkable access to the Riverwalk, Michigan Avenue, Millennium Park, and major transit lines.

Loop residents and visitors can watch the transformation unfold over the coming months as scaffolding marks the exterior work currently underway. The development will include 51 affordable units, offered at a weighted average of 60% of area median income, making this historic renovation accessible to a broader range of Chicagoans. Morton's Steakhouse will continue to occupy the ground floor, maintaining a familiar presence as the building begins its new chapter in The Loop's evolving landscape.

Sources:
1. https://yieldpro.com/2025/10/wacker-place
2. https://chicago.urbanize.city/post/developers-secure-funding-and-permit-office-residential-conversion-65-e-wacker
3. https://chicago.urbanize.city/post/construction-begins-wacker-place-residential-conversion
4. https://ccr-people.com/vendor-news/mchugh-begins-wacker-place-office-to-residential-conversion/