CHICAGO, IL - RMK Management Corp., one of the Midwest’s largest market-rate apartment management firms, has been hired to oversee leasing and property management for The Bellwether, a 14-story, 117-unit rental community in Chicago’s Loop neighborhood that is the office-to-residential conversion of former office building 79 W. Monroe. The community is already 57% leased and first move-ins are expected to begin in late August/early September.
Originally built in 1905, the property went through a major expansion in 1924, and over the years has served as office space and a major bank headquarters. In 2025, R2 Companies began the redevelopment of the landmark structure. It is the first office-to-residential conversion to be completed as part of the city of Chicago’s LaSalle Street revitalization initiative, which invests in the Loop’s LaSalle Street corridor with private funding and Tax Increment Financing (TIF) assistance for mixed-income residential projects and other neighborhood-oriented amenities.
“This truly is a landmark building that offers elevated urban living steps from some of Chicago’s most iconic attractions and convenient to so many employers in the central business district,” said Anthony Rossi Jr., president of RMK Management Corp. “The redevelopment of The Bellwether demonstrates how historic architecture can be preserved while also adapting to the needs of a modern downtown by transforming underutilized office space into vibrant housing that supports a more active, mixed-use neighborhood.
“Our RMK management and leasing team understands the needs of renters in the city, as we manage several other upscale properties in downtown Chicago,” Rossi added. “We’ve already hit the ground running as we get to know the first residents at The Bellwether and establish relationships, and our staff will begin offering a host of resident events and activities soon as part of our award-winning resident service programming that fosters a sense of community and connection among those living in the building.”
Located at 79 W. Monroe St., between Clark and Dearborn streets, The Bellwether is situated in the heart of the city’s financial district and near top dining venues, public transportation options, the Chicago Riverwalk and Lake Michigan. “Residents will enjoy both picturesque views of and easy access to landmarks like Millennium Park, Grant Park and the Art Institute of Chicago, plus they’ll easily be able to enjoy the theater district and all that the lakefront offers, from beaches to walking trails.”
The Bellwether features studio, one- and two-bedroom apartments with one to two baths. Residences measure 425 to 1,178 square feet, with rents ranging from $1,996 to $4,887 per month. The property includes 41 Affordable Requirements Ordinance (ARO) units.
Units showcase upscale finishes and features such as hardwood flooring; quartz countertops, tile backsplashes and stainless steel appliances in kitchens; in-unit laundry; walk-in closets; and kitchen islands in select units.
“The modern finishes in the apartments are paired with the classic architecture of the building and some of its original charming features like ornamental metal detailing on staircases and railings as well as vintage tile patterns in common areas throughout the building,” said Rossi. “Renters looking for an apartment brimming with character and history in a prime city location will love The Bellwether.”
On-site amenities include a variety of remote workspaces on the 14th floor, such as private work rooms with acoustic detailing that provide focus when needed as well as open coworking-style lounge areas. Additional amenities on this level include a fireplace, bar area, dining space and gaming features, including a pool table.
Also on the 14th floor is a fully equipped fitness center with dedicated areas for cardio, strength training and stretching, as well as two cedar-finished sauna rooms.
“The community’s wellness spaces support every level of fitness routine and are designed with modern finishes and features,” said Rossi. “After a tough workout or a long day, our sauna rooms are a great place to unwind, recharge and reset. As part of our resident programming, we will offer indoor and outdoor fitness classes for residents.”
An additional game room and lounge, as well as a dog spa, are located on the basement level. Outdoor amenities include a rooftop deck with lounge seating, a kitchen and pergola-covered gathering space, and an outdoor fitness area.
Residents are minutes from numerous L stations, including Monroe (at State) on the CTA’s Red Line, Monroe (at Dearborn) on the Blue Line and Washington/Wells on the Brown Line. The community is also just a 15-minute walk to Metra trains at Ogilvie Transportation Center and Union Station. The Bellwether is near a variety of neighborhood conveniences including retailers, pharmacies, coffee shops and award-winning restaurants.
About RMK Management Corp: A leading Midwest property management firm, RMK Management Corp. manages more than 7,500 units across Illinois, Minnesota and Wisconsin. The company’s portfolio spans a range of apartment types, from high-rise and mid-rise buildings to two- and three-story walk-up apartments, garden apartments, affordable housing and build-to-rent (BTR) townhomes. RMK also develops, builds and renovates communities.