The Alter Group is redeveloping 147,500 SF of space in Chicago's legendary Pittsfield Building as luxury residences for students attending downtown colleges and universities. Named Fornelli Hall, this repurposing of a 1927 landmark skyscraper represents The Alter Group's initial student-residence project. The 450-bed residence occupies floors 13 through 21 in the 38-story building at 55 East Washington Street.
Roosevelt University and Robert Morris College have already signed ground leases for 350 beds within Fornelli Hall, which their housing offices will rent to students. The Alter Group is leasing approximately 100 additional beds to students attending other colleges through its in-house resources. Fornelli Hall will be ready for fall-semester occupancy.
To assure resident safety, Fornelli Hall has 24-hour security and a key-card entrance on the building's northeast corner, dedicated exclusively to student use. And because student residences tend to require more intensive administration than a typical apartment building because of heavy turnover, The Alter Group has contracted with U.S. Equities to provide full-time management services.
The Alter Group has created several apartment configurations, ranging from studios to four-bedroom units. All have 10-foot ceilings; central HVAC; high-speed internet access; operable windows; European kitchens; and upscale bathrooms. Additionally, Fornelli Hall has spectacular views of Lake Michigan and Millennium Park, and is close to excellent public transportation options.
The Pittsfield Building was previously Chicago's tallest building, and incorporates exuberant Art Deco and Gothic Revival architectural elements. The building -- which is primarily occupied by small-space users such as doctors, dentists and jewelers -- has soaring public spaces that are virtually unchanged since completion more than 80 years ago. The building interior features a five-story atrium adorned by brasses and carvings in the Spanish-Gothic style. The elevator lobby has a carved coffered ceiling that was hand painted in Europe. Designed by Graham Anderson Probst & White, the Pittsfield Building was designated a Chicago landmark in 2002.