“Bronzeville’s historic Armour Institute Building, which overlooks the Dan Ryan Expressway and Sox Park, is one step closer to being converted into 102 apartments. On Wednesday, the city’s Community Development Commission voted to recommend allocating $5.5 million in tax increment financing (TIF) to support the property’s long-discussed adaptive reuse.
“Situated on the Illinois Institute of Technology’s near south side campus, the seven-story building was originally constructed in 1893 as part of the Armour Institute—a predecessor to IIT. Designed by architects Patten & Fisher, the building is considered a notable example of the Richardsonian Romanesque style and was designated a Chicago Landmark in 2004.
“IIT continued to use the building at 3300 S. Federal Street for administrative offices until 2007, and the school reached a deal to sell the building in 2017. Its new owner, developer Armour Institute, LLC, is led by Ohio-based MCM Company and includes local joint venture partner Washington Park Development Group.
“Dubbed ‘Flats on Federal,’ the $27 million redevelopment will produce 82 market-rate apartments and 20 affordable-rate units under the city’s ARO rules. Nineteen of the 102 units will be micro studios while the remaining 83 units will be offered as one-bedrooms. In addition to seeking $5.5 million in TIF assistance, the developers intend to pursue more than $4.5 million in historic preservation tax credits.” (Koziarz, Urbanize Chicago, 4/20/21)
The Illinois Institute of Technology (former Armour Institute) Main Building was a Preservation Chicago 7 Most Endangered in 2017. We worked with IIT towards a good reuse development and have continuously supported this project before the City of Chicago and Commission on Chicago Landmarks.
Plan to turn historic Armour Building into apartments gets city boost, The Community Development Commission OK’d $5.5 million in TIF money for the near south side project, Jay Koziarz, Urbanize Chicago, 4/20/21