July 20, 2005
Boul Mich gem converting to condos
by Sarah Unke
The environs of Millennium Park can count another adaptive reuse project among their budding ranks of residential buildings. At press time, developer Winthrop Properties planned to open sales in August for condos at the Boulevard, the conversion of the historic Monroe Building, 104 S. Michigan Ave.

Architects Holabird & Roche designed the 1912 structure with a terra cotta skin and gothic flourishes that make it a standout among its historic neighbors in Michigan Avenue’s renowned curtain wall. The 16-story tower’s gabled roof – a contrast with its flat neighbors – is its trademark feature, though for condo buyers, the park and lake views may be more important.

Robert Horner, of developer Winthrop Properties, said his goal was to restore the original architecture and design, including the dramatic lobby and terra cotta exterior. “This is the most beautiful lobby of any building on Michigan Avenue,” he said, describing the stunning vaulted foyer with glazed Rookwood tile.

“In terms of living units there will be extensive changes,” Horner said.

The building’s office space will be gutted for conversion to 96 condos with one to three bedrooms, priced from the $300s to $1.7 million. Unit features include hardwood floors, crown moldings, 10-foot ceiling heights, oversized windows, GE washers and dryers, high-speed Internet connections, upgraded Italian cabinetry, GE Monogram appliances, granite countertops, and marble flooring and countertops in bathrooms. The building will have a fitness center, media room, business center, valet parking, doorman and patio. Parking can be purchased for $30,000 per spot.

The area is a mix of new and old Chicago, with sparkling new Millennium Park just across from the Historic Michigan Boulevard District, a strip of Michigan Avenue between 11th and Randolph streets. Horner suspects that the restored original lobby, the intimate nature of the building and its history will draw buyers to the development. He also thinks that the new Millennium Park, which has been attracting buyers and builders alike, will be an asset.

“We suspect (the buyers) will probably be a high proportion of empty nesters who are interested in what’s going on near Millennium Park,” he said.

A sales center for the Boulevard, www.TheBoulevardCondos.com, is scheduled to open on site in August.