Chicago’s 111 W. Illinois St. Set to Open as Luxury Apartments After Office Conversion

Chicago, Illinois, United States of America — The office-to-residential transformation of 111 W. Illinois St. in River North, a building previously occupied by Salesforce, is nearing completion, with the first tenants expected to move in on May 22, developers confirmed.

Led by Path Construction and WindWave Real Estate, the $64.5 million project, now branded as 111 Point, is part of a growing trend in Chicago to convert underused office buildings into rental apartments amid high vacancy rates. Official records from Cook County show Path and WindWave acquired the building’s upper floors for close to $17 million. Construction began in August 2025, with full completion targeted for July 1. Leasing efforts have already commenced, and early demand has resulted in multiple signed leases.

The redevelopment delivers 111 units, featuring studios, one-bedroom (some with dens), and two-bedroom apartments. All units are located between the fifth and tenth floors, offering high ceilings—at least 10 feet—walk-in closets, high-end fixtures such as in-unit laundry and smart thermostats, and what developers describe as “condo quality” finishes. Rents will start at approximately $2,300 per month.

Extensive amenities are central to the project’s appeal, according to both Path Construction’s Jack Tse and WindWave’s Jon Cordell. The building includes a dedicated coworking lounge—leveraging infrastructure left by former tenants—private rooms, a podcasting studio, a fitness room with yoga studio, an all-season terrace equipped with a sauna and hot tub, and free Peloton memberships for residents. Existing retail and educational tenants, including Roka Akor, Tarry Coffee, and the Erikson Institute, will remain in the building.

River North currently stands as one of Chicago’s most active hubs for office-to-residential conversions, as approximately 25% of its office space remains vacant. Market research from Bradford Allen and CoStar indicates that the downtown district is experiencing a sustained pipeline of such conversions, with Chicago recently ranking third nationally in this category, according to RentCafe.

111 Point becomes the neighborhood’s first major private conversion project to reach the leasing phase without city funding. Developers say the effort is a response to both an oversupply of outdated office space and persistent demand for upscale downtown living.

Work continues on the building’s upper floors and common areas, with contractors on track for a July 1 completion. Leasing and tenant move-ins will commence beginning May 22.