An investor did more than just pay about $19 million this month for a Chicago building that was switched from loft offices to apartments. The buyer provided an early sale price for a completed office-to-apartment conversion as these projects gain traction nationwide.
What’s a multifamily conversion worth? This Chicago deal may help provide an answer.
Sale comes as developers nationwide remake outdated office buildings
By Ryan Ori
CoStar NewsSeptember 21, 2026 | 12:23 AM
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IN THIS ARTICLE
- Properties
- Paper Box Lofts
153 Ohio St, Chicago, IL
- Companies
- Blatteis & Schnur, Inc.
Real Estate
- Contacts
- Scott Gordon
CIO Acquisitions & Development, Blatteis & Schnur, Inc.
- Joe Smazal
Senior Managing Partner, Interra Realty
- Mark Dykstra
Director, Interra Realty