BRONZEVILLE — The Illinois Institute of Technology announced Monday that its historic main building was sold to developers who plan to completely renovate the 125-year-old landmark into new apartments.
The main building, at 3300 S. Federal St., was built in 1892 and declared a city landmark in 2004.
Armour Institute — a partnership of Washington Park Development Group and MCM Company — will complete the renovation. The building will get turned into a residential building with more than 100 new apartments.
“We are thrilled that Main Building will be renovated in a way that contributes to our community as well as the vibrancy of our campus life,” said Illinois Tech President Alan W. Cramb in a news release.
“This project will honor the architectural legacy of Main Building, while providing unique housing options for our students, young professionals, and others who want to live near our historic campus in Bronzeville only minutes from Downtown," he said.
The building will be converted into 102 micro- and one-bedroom apartments with washers/dryers and full kitchens. Each will have custom cabinets, solid surface countertops and ceramic baths.
Amenities will include a fitness center, bike storage, community space and a "package concierge" service, the university said. There will be a green rooftop deck.
The historic aspect of the building will be maintained, and some of its features will be restored, like the facades, roof and stained glass windows, the release said.
The loft-style units will be rented at "competitive market rates" on the South Side, said MCM President Melissa Ferchill and WPDG Partner Ghian Foreman in a joint statement.
"The Armour Building redevelopment will be a catalyst for the future development and the further renaissance of the Bronzeville neighborhood and Chicago’s South Side," they said.
Ald. Pat Dowell (3rd) said that the redevelopment means new job opportunities and more investment in Bronzeville.
“This project, and others like it, are helping to bring even more opportunity and economic growth to our historic neighborhood,” she said.
