Reimagined amenities – including a new food and beverage program led by Roanoke Hospitality Group, expanded fitness and wellness offerings, and hospitality-grade conference and coworking space – will redefine the tenant experience at the 1927 landmark

Clayco, the Chicago- and St. Louis-co-headquartered real estate development, master planning, architecture, engineering and construction firm, together with its real estate development subsidiary, CRG, The Prime Group, Inc., a preeminent Chicago-based real estate development and investment firm, and TP Management Co. (US) LLC (“TPM”), a management partner, today unveiled plans to transform the historic Jewelers Building at 35 E. Wacker Drive. Designed to elevate the daily experience for tenants and their guests, the renovation will introduce a fine dining restaurant, lobby and rooftop bars, expanded fitness and wellness amenities, and reimagined conference, event and coworking space to the 1927 landmark, renowned as one of Chicago’s architectural treasures with its distinctive terra-cotta-clad dome and Beaux-Arts detailing.

“The Jewelers Building is one of my favorite buildings in downtown Chicago, and we’re thrilled to give it the attention it deserves,” said Michael Reschke Jr., executive vice president of The Prime Group, Inc. “This project exemplifies our approach of acquiring historic properties and thoughtfully refurbishing them for contemporary uses. Sitting in the heart of downtown, this building will always be a crown jewel of Chicago’s architectural legacy.”

Planned renovations to the property will honor its Beaux-Arts character by activating some of its most recognizable architectural features. Roanoke Hospitality Group, an affiliate of The Prime Group, Inc., will operate and manage the property’s new food and beverage offerings, which will be open to the public. The group’s portfolio includes downtown Chicago staples such as The Grill on 21, La Bella and Mexican Radio.

Planned building improvements will include an expansion of the building’s fitness center with high-end equipment, dedicated studios for small-group workouts, modern wellness and relaxation amenities, and expanded locker rooms that will offer infrared saunas and cold plunge baths.

For tenants, the second floor will function as an extension of their own offices. A reimagined conference center and meeting hub will offer hospitality-grade event facilities with capacity for over 130 people, state-of-the-art AV systems and dedicated areas for private events. Additionally, a fully equipped coworking lounge will provide flexible work and gathering space that scales with each tenant’s needs.

The building renovations will also include a curated exterior lighting program that will highlight the building’s historic architectural details, creating a dramatic nighttime presence that draws guests and passersby to the reimagined dining and hospitality experiences within. Programmable color capabilities will allow the façade to celebrate holidays and city events.

Under Roanoke Hospitality Group’s direction, the culinary program will span multiple venues throughout the building. They include an all-day lobby bar, fine dining restaurant and 25^th-floor rooftop bar that will allow guests to reserve the two north-facing colonnaded cupolas on the riverfront corners of the building’s iconic central tower. These open, temple-like lanterns – originally designed to screen rooftop water tanks – will serve as intimate outdoor dining venues with unparalleled panoramic views of the Chicago River and city skyline.

“The Jewelers Building is one of Chicago’s defining landmarks, and its location along the Chicago River is central to the city’s skyline. The building deserves thoughtful reinvestment, both for our tenants, including Clayco, and as a destination in its own right,” said Shawn Clark, CEO of CRG, whose offices are based in the building. “I’m confident that our team’s approach to investing in hospitality-driven improvements will elevate the day-to-day experience and genuinely improve life for the people who work here while honoring its historic character.”

Construction will begin in fall 2026, with the new restaurant and bar concepts slated to open in 2027.

The renovation coincides with leasing momentum at the Jewelers Building. The property recently secured new leases and renewals, including a 25,445-square-foot headquarters relocation by Sheridan Capital Partners, a 91,000-square-foot renewal and full-floor expansion by Clayco/CRG, a 21,666-square-foot renewal by architecture firm SmithGroup, and renewals from Aprio and Selective Search. Madison Rose, a specialized commercial real estate brokerage firm focused on office and mixed-use leasing in Chicago, has led leasing efforts for the building.

Other planned capital improvements include modernized elevators and upgraded security systems. Ownership also enhanced the property’s existing parking garage.

TPM is an investor in the project and will continue to participate in the ongoing management and long-term enhancement of the asset while coordinating capital support for future improvement and repositioning initiatives. The renovation reflects TPM’s continued commitment to Chicago’s core market and to advancing the value creation of urban legacy assets.

Designed by Joachim Giaver and Frederick Dinkelberg, the Jewelers Building is recognized by the National Register of Historic Places as part of the Michigan–Wacker Historic District. Upon completion in 1927, the 40-story high-rise was the world’s tallest building outside of New York City. It was designated a Chicago landmark in 1994.

About CRG:
CRG is a privately held real estate development and investment firm with deep expertise in industrial, mixed-use, student housing and data center assets. The firm serves clients and investors from seven regional offices, benefiting from local expertise in Chicago, St. Louis, Seattle, Southern California, Phoenix, Philadelphia and Atlanta. CRG has developed more than 12,500 acres of land and delivered over 220 million square feet of assets exceeding $14 billion in value. For more information, visit CRG’s website at www.realcrg.com.

About Clayco:
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely and sustainably delivers the highest quality solutions to clients across North America on time, on budget, and above and beyond expectations. With $8.1 billion in revenue for 2025, Clayco specializes in the “art and science of building,” providing fast track, efficient solutions for industrial, commercial, institutional and residential-related building projects. For more information, visit www.claycorp.com.

About The Prime Group, Inc:
The Prime Group, Inc. and its affiliates are one of the preeminent real estate development and investment companies in the country. Prime’s real estate development and investment experience includes all types of institutional-quality real estate, ranging from award-winning office towers to luxury hotels and multifamily, retail and industrial properties. Since its inception in 1982, Prime and its affiliates have developed, redeveloped and acquired more than $17.0 billion of institutional-quality commercial and residential real estate. For more information, visit Prime’s website at www.primegroupinc.com.

About TP Management Co. (US) LLC:
TPM is a Chicago-based, nationwide real estate investment, capital and management platform focused on cross-regional and multi-asset-class real estate investments across the United States. For real estate projects aligned with its investment strategy, TPM has the ability to organize and introduce international capital while investing alongside its capital partners. TPM is deeply involved across the full investment lifecycle, including multi-layered capital formation and structuring, investment management, asset management and exit planning.

About Madison Rose:
Madison Rose is a specialized real estate firm bringing innovation to a commoditized and archaic industry. Focused entirely within downtown Chicago’s commercial office leasing environment, Madison Rose is the Midwest’s fastest-growing landlord representation team. With its boutique organization structure, Madison Rose’s hyperlocal marketing approach and data-oriented strategy are the cornerstones of its operation. Since inception in 2020, Madison Rose has completed over 3 million square feet of leasing within a variety of asset classes. More information is available at www.mad-rose.com.

*All images should be credited to CRG and Prime Group

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