The Rector Building is officially a Chicago landmark

The Chicago City Council has approved a landmark designation for the Rector Building located at 79 W. Monroe. Located at the southeast corner of W. Monroe St and S. Clark St, the building was constructed in 1905 with a large, seamless south addition completed in 1924. 

The Rector Building was built in 1905 for Charles E Rector, a restaurateur in the late 18th and early 19th centuries. As the building became part of the larger LaSalle financial district, the building became home to several financial institutions. Bell Savings and Loan Association occupied the lower banking floors from 1951 through 1997 and its distinctive corner bell hanging signage remains suspended over the sidewalk at the corner of the building.

Charles Rector was a pioneer in Chicago’s early restaurant industry and became internationally recognized as a restaurateur and entrepreneur. His reputation was further cemented in 1983 when he opened the Cafe de la Marine at the Worlds Columbian Exposition in Jackson Park. His success in the restaurant business led him to expand into real estate. 

The Rector Building is one of the oldest surviving examples of early commercial high rises designed by architect Jarvis Hunt. Its design combines classical design features with aspects of 20th century modernism from the Chicago and Prairie Schools.

Designed by Ware Malcomb, the planned adaptive reuse and conversion will measure approximately 100,000 square feet within the building, including the basement and floors 7 through 14. The conversion will transform floors 7 to 13 into 117 residential units, 41 of which (35%) will be designated as affordable housing. The project’s unit mix will include 56 studios, 54 one-beds, 7 two-beds. Zero parking spaces will be included in the project.

On the ground floor, the renovated lobby along W. Monroe St will feature a dedicated entrance for residents only, enhancing security and accessibility. Amenities provided for residents will include a tenant lounge, fitness center, outdoor areas, bike storage, and a dog run, all located in the basement and on floor 14. Floors 2 through 6 will undergo no changes; they will continue to house the Intrinsic School, a charter high school. 

With the landmark designation approved, the building is protected from demolition and significant changes on the exterior. An interior demolition permit has been issued for joint venture contractors Leopardo Companies and GMA Construction Group to clear the office floors in preparation for the new residential units to be built. Work is expected to begin imminently, and the converted space is expected to open to new residents in Q1 2026.