The iconic Johnson Publishing building has a new owner, and will eventually have new tenants.
Developer 3L Real Estate announced Tuesday it has acquired the 46-year-old landmark office building and plans to turn it into 150 rental apartments, while maintaining its character by keeping the historic Ebony/Jet sign on the building.
The 11-story, 110,000-square-foot building has been vacant for the past seven years, but was long the headquarters of Johnson Publishing.
Columbia College Chicago, which is located nearby, bought the building in 2010, but never occupied it.
So far, 3L Real Estate has developed more than 650 rental apartments in Hyde Park and the South Loop, as well as in Milwaukee. Construction is expected to start in early 2018.
Feb. 20: The former Johnson Publishing building is up for landmark status, but what does that mean for the future of the only black-designed high-rise in downtown Chicago?
Feb. 3: The landmark designation process started Thursday for the 110,000-square-foot S. Michigan Avenue building designed by black architect John Warren Moutoussamy.