CHICAGO, IL - Cross Street, a Chicago-based residential real estate firm, Mavrek Development and ACRES Commercial Realty today announced the start of pre-leasing at Wacker Place, a new office-to-residential conversion at 65 E. Wacker Place, in the heart of downtown Chicago. Blending classic architectural character with modern finishes and amenities, the 26-story property offers residents a distinctive urban living experience in one of the city’s most connected and vibrant neighborhoods. First move-ins are scheduled for this August.
Upon completion, the community will feature 252 apartments offered in studio, convertible, one- and two-bedroom floor plans priced from $2,195 per month. Residences are complemented by an amenity package that includes a state-of-the-art fitness center, coworking spaces and a resident lounge with pool table, demonstration kitchen and fireplace. A rooftop terrace provides sweeping views of the adjacent riverfront.
“Wacker Place represents a thoughtful reinvention of a historic structure by bringing new life to an iconic Chicago building while meeting the expectations of today’s renters,” said Anthony Hrusovsky, Mavrek’s chief investment officer. “As one of the first substantial office-to-residential conversion projects in this cycle, it preserves timeless architecture while adding much-needed housing along the riverfront, where ground-up development is naturally constrained. Its combination of premier location and elevated design positions it as a standout offering within the Loop’s residential market.”
The building’s ground-floor retail space houses Morton’s Steakhouse, which remains open during construction. The downtown location offers exceptional walkability and connectivity, with immediate access to multiple CTA rail lines, bus routes, river taxis and Divvy stations. The property is steps from the Chicago Riverwalk and close to Millennium Park, Maggie Daley Park and the lakefront, as well as major employers, restaurants, storefronts and the Theater District.
“Wacker Place exemplifies the kind of property that resonates with renters by combining a contemporary living experience with the authentic character of a historic Chicago building,” said Shane Rachman, president and founder of Cross Street, the exclusive leasing partner for Wacker Place. “Adaptive reuse projects like this one are also filling a hole in the downtown rental market, where new construction has slowed. We expect conversions to account for a significant share of new supply in the coming years, accommodating an influx of new residents to the city center as Google and other employers plant their flag here.”
Built in 1928 and designed by architectural firm Rissman & Hirschfeld, 65 E. Wacker Place was originally known as the Millinery Mart Building. As an office building, it housed many of the city’s hatmakers as well as fashion designers and the publishing pioneers behind Esquire and Playboy. McHugh Construction served as general contractor in partnership with Cullen Construction Management on the residential adaptive reuse.
Prospective residents can learn more by visiting wackerplace.com
About Cross Street: Cross Street is a full-service residential real estate firm specializing in multifamily leasing, home sales and third-party developer services. Cross Street launched in early 2024, evolving from Peak Realty, which was originally founded in 2019. Today, the firm has offices in Chicago, Denver and Cleveland, with exclusive listings for 12,000-plus rental units across more than 400 properties. As a brand situated at “The Corner of People and Place,” the company brings a relationship-first approach to connecting people with the spaces they call home. Cross Street’s team of more than 40 licensed brokers and leasing agents maintains close relationships with clients ranging from renters and homebuyers to the developers and owners of mid- and high-rise apartment communities. Through high-impact brands, data-driven development and marketing strategies and best-in-class residential services, the firm delivers value through superior property performance.
About Mavrek: Mavrek, founded in 2010, has grown into one of Chicago’s most active developers. Originally focused on luxury single-family homes, the firm has expanded into high-quality urban infill multi-family and mixed-use projects. With a strong commitment to Chicago and a collaborative approach to executing complex developments, Mavrek represents the next generation of the city’s real estate leaders.