Reno Permit Issued for Residential Conversion at 223 W. Erie

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A renovation permit has been issued for the office-to-residential conversion of a seven-story building at 223 W. Erie in Chicago. Planned by Concord Capital, the project will transform the existing 24 office suites into 66 new residential units, including 31 studios, 24 one-bedrooms, and 11 two-bedrooms. The $18.4 million development will also add 35 bike parking spaces in the basement.

Why it matters

This adaptive reuse project is part of a broader trend of converting underutilized office space into much-needed residential units in downtown Chicago. As the city's office market continues to evolve in a post-pandemic world, developers are finding creative ways to repurpose existing buildings to meet the demand for urban living.

The details

The existing seven-story office building, located at the southeast corner of N. Franklin St and W. Erie St, currently has retail space on the ground floor and six floors of office space above. Designed by Kennedy Mann, the conversion will transform the 24 office suites on the upper floors into 66 new residential units, with 11 units per floor consisting of 31 studios, 24 one-bedrooms, and 11 two-bedrooms. No car parking will be provided on-site, but 35 bike parking spaces will be added in the basement for residents.

• The interior demolition permit has already been issued.
• The renovation permit was issued on April 8, 2026, allowing 3F Construction to begin the buildout of the new residential units.

What’s next

The project timeline for the $18.4 million development has not been announced, but the issuance of the renovation permit allows 3F Construction to begin the buildout of the new residential units.