3L Real Estate To Spend Up to $20M Turning The Johnson Publishing Building Into Apartments

A rendering of 3L Real Estate's plans for the Johnson Publishing Building in the South Loop.

A rendering of 3L Real Estate's Plans for the Johnson Publishing Building in the South Loop

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The Johnson Publishing Building, once home to the legendary black-owned Ebony and Jet magazines, has a new lease on life as apartments. 3L Real Estate bought the landmarked building from Columbia College Chicago for $10M and plans to invest another $15M to $20M converting the 11-story office building into apartments. CEO Joseph Slezak said 3L will build 150 apartments, most of them studios and one-bedroom units. The building was designed in 1971 by John Warren Moutoussamy, who studied under Mies van der Rohe, and is the only downtown building designed by an African-American. Slezak said the iconic Ebony/Jet sign atop the building will remain. Rents will range between $1,200/month for a studio to $2,700/month for one of the handful of two-bedroom units planned.

Read more at: https://www.bisnow.com/chicago/news/multifamily/3l-real-estate-building-apartments-at-historic-johnson-publishing-building-82065?be=brian%40mkcpr.com&utm_source=Newsletter&utm_medium=email&utm_campaign=wed-29-nov-2017-000000-0500_chicago-re?utm_source=CopyShare&utm_medium=Browser
The Johnson Publishing Building, once home to the legendary black-owned Ebony and Jet magazines, has a new lease on life as apartments. 3L Real Estate bought the landmarked building from Columbia College Chicago for $10M and plans to invest another $15M to $20M converting the 11-story office building into apartments. CEO Joseph Slezak said 3L will build 150 apartments, most of them studios and one-bedroom units. The building was designed in 1971 by John Warren Moutoussamy, who studied under Mies van der Rohe, and is the only downtown building designed by an African-American. Slezak said the iconic Ebony/Jet sign atop the building will remain. Rents will range between $1,200/month for a studio to $2,700/month for one of the handful of two-bedroom units planned.

Read more at: https://www.bisnow.com/chicago/news/multifamily/3l-real-estate-building-apartments-at-historic-johnson-publishing-building-82065?be=brian%40mkcpr.com&utm_source=Newsletter&utm_medium=email&utm_campaign=wed-29-nov-2017-000000-0500_chicago-re?utm_source=CopyShare&utm_medium=Brow
The Johnson Publishing Building, once home to the legendary black-owned Ebony and Jet magazines, has a new lease on life as apartments. 3L Real Estate bought the landmarked building from Columbia College Chicago for $10M and plans to invest another $15M to $20M converting the 11-story office building into apartments. CEO Joseph Slezak said 3L will build 150 apartments, most of them studios and one-bedroom units. The building was designed in 1971 by John Warren Moutoussamy, who studied under Mies van der Rohe, and is the only downtown building designed by an African-American. Slezak said the iconic Ebony/Jet sign atop the building will remain. Rents will range between $1,200/month for a studio to $2,700/month for one of the handful of two-bedroom units planned.

Read more at: https://www.bisnow.com/chicago/news/multifamily/3l-real-estate-building-apartments-at-historic-johnson-publishing-building-82065?be=brian%40mkcpr.com&utm_source=Newsletter&utm_medium=email&utm_campaign=wed-29-nov-2017-000000-0500_chicago-re?utm_source=CopyShare&utm_medium=Brows
3L Real Estate To Spend Up To $20M Turning The Johnson Publishing Building Into Apartments

Read more at: https://www.bisnow.com/chicago/news/multifamily/3l-real-estate-building-apartments-at-historic-johnson-publishing-building-82065?be=brian%40mkcpr.com&utm_source=Newsletter&utm_medium=email&utm_campaign=wed-29-nov-2017-000000-0500_chicago-re?utm_source=CopyShare&utm_medium=Browser
3L Real Estate To Spend Up To $20M Turning The Johnson Publishing Building Into Apartments

Read more at: https://www.bisnow.com/chicago/news/multifamily/3l-real-estate-building-apartments-at-historic-johnson-publishing-building-82065?be=brian%40mkcpr.com&utm_source=Newsletter&utm_medium=email&utm_campaign=wed-29-nov-2017-000000-0500_chicago-re?utm_source=CopyShare&utm_medium=Browser