{"id":1004127068,"date":"2015-09-08T11:15:40","date_gmt":"2015-09-08T19:15:40","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=360228"},"modified":"2022-11-30T23:37:29","modified_gmt":"2022-12-01T07:37:29","slug":"iconic-lasalle-building-conversion-closer-to-fruition","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/iconic-lasalle-building-conversion-closer-to-fruition\/","title":{"rendered":"Iconic LaSalle Building Conversion Closer to Fruition"},"content":{"rendered":"

By Ioana Neamt, Associate Editor<\/em><\/p>\n

\"39<\/a><\/p>\n

39 S LaSalle Street<\/p>\n<\/div>\n

A historic downtown Chicago building designed by \u2018father of the skyscraper\u2019 William Le Baron Jenney is nearing its renaissance as a four-star boutique hotel.<\/p>\n

U.S. Bank<\/a> has closed on a $66.5 million loan for the acquisition and rehabilitation of 39 S. LaSalle St. into a 293-key hotel managed by Kimpton Hotels & Restaurants<\/a>. Kimpton announced plans to reinvent the former New York Life and later LaSalle-Monroe Building in August 2014, as previously reported by Commercial Property Executive<\/a>.<\/p>\n

Following $160 million worth of renovation work, the 14-story building will incorporate 9,500 square feet of ground-floor retail; 12,500 square feet of meeting and event space on the 14th<\/sup> and 15th<\/sup> floors; a destination restaurant and bar; a top-floor ballroom; and a rooftop bar with views of the Windy City skyline. The conversion project is scheduled for completion in mid-2016.<\/p>\n

\u201cThis project not only preserves a historic and once-threatened downtown building, but will further increase the vibrancy of the financial district,\u201d Marsha Cruzan, market president for U.S. Bank in Chicago, said in a prepared statement.<\/p>\n

The 121-year-old building at 39 S. LaSalle is one of only two buildings in the city to be designed by Le Baron Jenney. The team working on the rehabilitation project will preserve the building\u2019s historic terra cotta fa\u00e7ade and its iconic lobby.<\/p>\n

Kimpton Hotels & Restaurants owns four other assets in Chicago\u2014Hotel Burnham, Hotel Allegro, Hotel Monaco, and Hotel Palomar.<\/p>\n","protected":false},"excerpt":{"rendered":"

A historic downtown Chicago building designed by ‘father of the skyscraper’ William Le Baron Jenney is nearing its renaissance as a four-star boutique hotel.<\/p>\n","protected":false},"author":192,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21742],"tags":[],"class_list":["post-1004127068","post","type-post","status-publish","format-standard","hentry","category-chicago","category-latest"],"acf":[],"yoast_head":"\nIconic LaSalle Building Conversion Closer to Fruition - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/iconic-lasalle-building-conversion-closer-to-fruition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iconic LaSalle Building Conversion Closer to Fruition\" \/>\n<meta property=\"og:description\" content=\"A historic downtown Chicago building designed by ‘father of the skyscraper’ William Le Baron Jenney is nearing its renaissance as a four-star boutique hotel.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/iconic-lasalle-building-conversion-closer-to-fruition\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-09-08T19:15:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-01T07:37:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/275px-NYLife_Bldg_Chicago-wiki.jpg\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/iconic-lasalle-building-conversion-closer-to-fruition\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/iconic-lasalle-building-conversion-closer-to-fruition\\\/\"},\"author\":{\"name\":\"Ioana Neamt\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/993af2799cdaf5162633d320cf63ff16\"},\"headline\":\"Iconic LaSalle Building Conversion Closer to Fruition\",\"datePublished\":\"2015-09-08T19:15:40+00:00\",\"dateModified\":\"2022-12-01T07:37:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/iconic-lasalle-building-conversion-closer-to-fruition\\\/\"},\"wordCount\":245,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/iconic-lasalle-building-conversion-closer-to-fruition\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/09\\\/275px-NYLife_Bldg_Chicago-wiki.jpg\",\"articleSection\":[\"Chicago\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/iconic-lasalle-building-conversion-closer-to-fruition\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/iconic-lasalle-building-conversion-closer-to-fruition\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/iconic-lasalle-building-conversion-closer-to-fruition\\\/\",\"name\":\"Iconic LaSalle Building Conversion Closer to Fruition - 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