Major Renovation Announced for Chicago’s Historic Jewelers Building on Wacker Drive

CHICAGO — One of the Loop’s most recognizable historic towers is getting ready for a major new chapter. The Jewelers Building at 35 East Wacker Drive, a century-old landmark overlooking the Chicago River, is set for a major renovation designed to bring new energy, new amenities, and a more public-facing experience to one of downtown Chicago’s most photographed buildings.

Known for its dramatic Beaux-Arts design, tiered silhouette, matching cupolas, and appearances in movies over the years, the building has long been part of Chicago’s architectural identity. Now, with a planned $25 million makeover, the Jewelers Building is being repositioned for the next generation of downtown office, dining, and hospitality users.

A Historic Chicago Landmark Is Getting a Modern Refresh

Located at 35 East Wacker Drive near North Wabash Avenue, the Jewelers Building sits in one of the most visible locations in the Loop, directly along the river.

The building was originally completed in 1927 and rises roughly 40 stories into the skyline. Its ornate exterior, upper-level cupolas, and riverfront positioning have helped make it one of the most distinctive historic towers in downtown Chicago.

The building is also known for one of its most unusual original features: an interior vehicle elevator once used to bring jewelers and their merchandise directly up into the building for added security. That detail alone has made it one of the more fascinating office towers in Chicago history.

What the $25 Million Renovation Will Include

Rendering of Jewelers Building cupola tables via CRG

The renovation plans are being led by Prime Group and CRG, the development arm of Clayco, after the building was purchased in 2024. Both CRG and Prime Group maintain large offices in the tower, which is currently reported to be about 63 percent leased.

The planned upgrades are designed to make the building more competitive for tenants while opening parts of the property to the public in a more meaningful way.

Planned features include:

A new public lobby bar
A high-end restaurant
A rooftop bar on the 25th floor
Private tables set within two of the historic cupolas
An expanded fitness center
A new conference center
A coworking lounge
Updated food and beverage offerings
New exterior lighting designed to illuminate the building at night

The rooftop bar is expected to be one of the most talked-about pieces of the renovation, especially because it will activate the building’s historic cupolas in a way most Chicagoans have never experienced before.

When Will the Jewelers Building Renovation Open?

The new amenities and renovation features are expected to open in 2027.

Once complete, the project could give the Loop another reason to draw workers, visitors, architecture fans, and residents back into the heart of downtown.

For a building that has already lived many lives over the past century, this renovation may be less about changing its identity and more about reintroducing it to Chicago in a fresh way.

Looking to Live Near Chicago’s Best Architecture?

Browse available condos near The Loop, River North, Streeterville, and the Chicago Riverwalk, or connect with the Cory Tanzer Group at Option Premier for expert guidance on downtown Chicago buildings, riverfront condos, and homes near the city’s most iconic architectural landmarks.

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