United States Real Estate Investor

What Did Chicago Approve at 212 East Ohio? Chicago City Council approved a residential conversion at 212 East Ohio Street. The action clears a zoning amendment for the five-story mixed-use building in Streeterville. The project will replace upper-floor office space with 28 apartments while preserving the ground-floor restaurant. The approval applies to a roughly 28,000-square-foot building between North Fairbanks Court and North St. Clair Street. The project remains pre-permit with no construction timeline yet disclosed. Curbed Real Estate and Gansari & Associates advanced the proposal through zoning review and final council action. Similar projects have gained momentum as office-to-residential conversions expand in response to remote work and weaker office demand. Program Effects City action keeps the property mixed-use under DX-12 zoning. It allows the upper floors to shift from office use to housing while commercial activity remains at street level. The plan includes 24 one-be...

Pelouze Building Sold for Apartment Conversion Marking a sharp shift in Streeterville's redevelopment market, the historic Pelouze Building at 230 E. Ohio Street traded for $9.75 million in October 2025, according to property records and CoStar data. Horizon Realty Group sold the 1917 loft office building to affiliates of Wildwood Investments about one year after acquiring it for roughly $5.6 million. The markup underscored demand for office-to-apartment deals as Chicago posts strong rent growth and limited new supply. Similar investor appetite has been visible in markets shaped by limited new supply and scarce inventory. Pivot Signals Pressure Designed by Alfred Alschuler, the seven-story property carries historic preservation significance through ties to William Nelson Pelouze and later to Mies van der Rohe's office. Before closing, Horizon completed interior demolition and tenant relocation, creating a cleaner handoff. DX-12 zoning also allowed residential conversion by-rig...