Summit Design + Build LLC has been retained as general contractor for the now-vacant building's renovation, which will be overseen by project manager Mark Heffron and superintendent Phil Larsen.

"It's a complete gut rehab, and we're installing a new elevator, stairwell, windows and roof," Summit president Adam Miller tells GlobeSt.com. "It's been designed so it's flexible for a variety of users, in a great location right in the heart of Randolph in the center of a bunch of restaurants. There are interesting dynamics over here with the old and the new, the old buildings that continue to operate and the adaptive reuse of existing buildings."

Constructed of load bearing masonry, heavy timber and structural steel support systems, the property dates back to the 1920s, when it housed a local neighborhood grocer. ZWA Architecture is providing architectural services for the restoration project, which plans to maintain the integrity and quality of the existing structure while updating it to modern standards. Renovations will include installation of a high-efficiency HVAC system and lighting plan, and the project will seek a LEED Silver rating when completed.

ZWA will be occupying the top floor of the property, while the remainder of the space is available for lease. Asking lease rates for office in the West Loop submarket are around $35 per square foot gross, according to CB Richard Ellis's mid-year CBD office market report. Overall occupancy in the West Loop is near 86%, CBRE's research says.

"In the West Loop, there's been an ongoing transformation of these types of structures for a variety of uses," Miller says. "There are a lot of these conversions and there's a variety of businesses that have been moving into the West Loop for many years now. There's fewer and fewer of these in the area now, but there's a variety of produce and meat distribution and storage buildings remaining available on Randolph and Lake and Fulton Market."