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Chicago
Illinois
Midwest
United States
Commercial Building
Residential Complex
Adaptive Reuse
Under Redevelopment
Public Research
500 North Michigan Avenue, Chicago
The 24-story tower will keep ground-floor retail while vacant offices become housing and a new rooftop level changes the building's original profile.
500 North Michigan Avenue
500 North Michigan Avenue, Chicago, Illinois 60611
Precision: Exact
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Quick Take
- Skidmore, Owings & Merrill designed the 304-foot office tower, completed in 1968.
- The approved conversion places 320 apartments on floors three through 23 and retains ground-floor retail.
- Construction began in July 2026, with completion targeted for late 2027.
Email updates for 500 North Michigan Avenue.
Why It Matters
The tower belongs to the modern commercial buildout of North Michigan Avenue. Its conversion records how a corridor built around offices and retail is responding to sustained office vacancy.
Reusing the concrete and steel structure retains embodied material and keeps an occupied street edge, but the intervention is substantial: vacant floors are gutted, building systems are replaced, and a new amenity story is added above the original roof.
The project also exposes a central downtown housing question. Adding 320 homes changes use at scale, while the luxury program leaves affordability and broader access to be measured elsewhere in the city's conversion strategy.
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Research Narrative
A Modern Mag Mile Office Tower
Completed in 1968, the SOM-designed tower rose 24 stories at Michigan Avenue and Illinois Street. Retail at the base and offices above reflected the corridor's commercial logic.
By the 2020s, vacant upper floors made the existing structural frame a candidate for residential conversion rather than demolition or continued office leasing.
From Offices To 320 Apartments
Commonwealth Development Partners and GREC Architects are converting floors three through 23 to housing. Skender's work includes interior demolition, elevator modernization, new residential systems, and a 25th-floor amenity level.
Ground-floor retail remains, preserving mixed use at the sidewalk even as the tower's primary function changes.
Public Actions
Campaign / Petition Record
Ordered oldest to newest.
October 17, 2024
Development Approval
Chicago Plan Commission approves the conversion plan
by Public record Previous
The approved planned-development record documents the site and conversion proposal.
July 29, 2026
Construction Milestone
Residential conversion breaks ground
by Public record Current
Construction began with late 2027 targeted for completion.
Signals
Latest Google News
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500 North Michigan Avenue, Chicago, Illinois
Skender starts conversion of iconic Magnificent Mile office tower into 320 residences Chicago Construction News
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Related Updates
1 published update is linked to this article.
Watchlist Blog
July 29, 2026
500 North Michigan starts its second life as housing
Work has begun to turn a 1968 SOM office tower into 320 apartments, one of the Mag Mile's...
FAQ
Is the existing tower being demolished?
No. Its structure and retail base are being reused while the vacant office floors are rebuilt as apartments and a new rooftop level is added.
Sources
Source Trail
Skender: 500 North Michigan construction start
project team
Current scope, architect, original design credit, unit count, and schedule.
Place Snapshot
- Place
- 500 North Michigan Avenue
- Location
- 500 North Michigan Avenue, Chicago, Illinois 60611
- Coverage
- Exact
Key Facts
- Region
- Chicago, Illinois / Midwest
- Location type
- Office tower / residential conversion
- Built
- 1968
- Original architect
- Skidmore, Owings & Merrill
- Current status
- Under conversion to 320 apartments
Design / Planning Timeline
Skidmore, Owings & Merrill
1968
Milestone
Original architect
Designed the 24-story office tower.
GREC Architects
2024-2027
Milestone
Conversion architect
Designed the office-to-residential reuse and rooftop addition.
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