via Elev8:
Earlier this year it was revealed that the iconic Johnson Publishing Company headquarters in Chicago would be recognized as a landmark. Now that the structure has been granted landmark status by the city, the building has been sold for $10 million, the Chicago Crusader reported.
The 46-year-old building—which once housed the offices for notable Black publications like Ebony and Jet—was acquired by 3L Real Estate, the news outlet said.
The developer plans to invest $20 million into transforming the building into a luxury residential complex. It will feature 150 apartments and have amenities that include a fitness center, laundry room, and an underground parking garage that Johnson Publishing Company founder John H. Johnson built. Rents start at $1,200 and go up to $2,700. Joseph Slezak, the founder of 3L Real Estate, said he plans to preserve some parts of the structure, including the Ebony and Jet signs on the building’s façade.
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