A Chicago real estate firm known for redeveloping outdated office buildings has bought a 40-story, Helmut Jahn-designed tower in the Loop business district with plans to potentially convert lower floors into a luxury hotel.
Part of Chicago office tower could become luxury hotel after discounted sale
Prime Group buys Helmut Jahn-designed building for $24 million
By Ryan Ori
CoStar NewsJuly 15, 2026 | 2:46 P.M.
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IN THIS ARTICLE
- Properties
- Companies
- The Prime Group, Inc.
Real Estate
- Manulife Financial Corporation
Finance and Insurance
- Contacts
- Jaime Fink
Senior Managing Director & Managing Broker, JLL
- Sam DiFrancesca
Senior Director, Capital Markets, JLL
- Michael W. Reschke
Chairman and Chief Executive Officer, The Prime Group, Inc.
- Bruce Miller
Senior Managing Director, Office Group Leader, JLL