New Owner of Johnson Publishing Building Eyes Nearby Property

A rendering of the building.

A Rendering of the Building

After buying the landmark Johnson Publishing headquarters building from Columbia College, local developer 3L Real Estate is already cooking up its next big deal with the South Loop school.

3L has agreed to buy a 343-bed student housing complex at 731 S. Plymouth Court from Columbia, confirmed 3L CEO Joe Slezak. The firm may keep running the property as a student residence or convert it into traditional apartments, he said.

3L is working on the Plymouth Court acquisition as it pushes ahead with its plan to convert the 11-story Johnson Publishing building into 150 apartments. The property at 820 S. Michigan Ave. has been vacant since the publisher of Ebony and Jet magazines moved out in 2012, and Columbia put it up for sale last year after deciding it didn't need the building for an expansion.

 

Read the full story at Crain's.