In downtown Chicago, the Clark Adams Building, also known as the Bankers Building, is headed for a major new chapter. The 41-story Art Deco tower at 105 W. Adams St. is being converted into a roughly 400-unit residential building, turning about 400,000 square feet of underused office space into studios and one- and two-bedroom apartments.
The $183.5 million project reflects a wider push toward adaptive reuse, where cities and owners preserve older buildings and update them for new uses instead of tearing them down. Newsweek notes another high-profile example in progress: New York City’s Flatiron Building, designed by Daniel H. Burnham, which is also being transformed into residences.
For the Clark Adams Building, the exterior is the historic centerpiece. The building was designated a City of Chicago Landmark in 2025 and sits within a local historic district. According to the project team, the masonry and terracotta facade remain largely original, and landmark protections mean that preservation, cleaning, and careful maintenance stay at the core of the work.
That focus matters for mason contractors and restoration crews because a residential conversion does not remove the building’s responsibilities to the street. Replacement windows designed to fit the building’s historic character are part of the plan, aiming to improve comfort for future residents while respecting the landmark status.
Inside the tower, decades of renovations removed many original features, according to Robert Harris, a senior associate at Pappageorge Haymes Partners, the architecture firm leading the conversion. The building also has active uses that stay in place during planning, including multiple retail and commercial spaces at street level, an active restaurant tenant, and a fully operational hotel in the middle floors, adding coordination challenges.
A facade study is expected to begin soon to determine the extent of masonry restoration and repairs needed as the nearly century-old skyscraper prepares for its next life as housing.
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