THE LOOP (WBBM Newsradio) -- Dozens of new apartments are now available in the heart of what was once Chicago's financial district, in a building that's been home to an unique landmark for decades.
Once upon a time, the brick building on the southeast corner of Monroe and Clark Streets was home to Bell Federal Savings. If you've walked or driven through that area, you've probably seen its lighted "weather bell" sign on the corner that changes colors in response to the forecast.
Now, in a brilliant bit of branding, the home of the "weather bell" is known as the Bellwether Residences, 79 W. Monroe St.
"Seventy-nine West Monroe has always been at the heart of something special," Chicago planning commissioner Ciere Boatright said during Wednesday's ribbon-cutting at the building where 11 floors of vacant office space have been converted into 117 new apartments, 41 of which are designated as "affordable." She described it as the first of more than two dozen projects currently underway in the downtown area to transform office buildings left under-used after the start of the COVID-19 pandemic into living spaces.
Housing commissioner Lisette Castaneda says the work going on now to convert office buildings into apartment homes will forever change the look of what has for decades been a traditional commercial corridor: "It looks like a corridor that remains vibrant after the commuters leave at 5 P.M. or after the prime tourism season has ended."
The city kicked in $28 million in economic development funds to help this project, which included restoration of that weather bell on the corner.
The Bellwether's website says rents start under $2,000 a month.
117 units open in former Loop bank; "weather bell" sign restored too
117 units open in former Loop bank; "weather bell" sign restored too
