June 3, 2026 – One of the Loop’s most celebrated architectural masterpieces is about to undergo a dramatic $25 million transformation.
A high-profile Chicago-based real estate joint venture consisting of Clayco, its development subsidiary CRG, The Prime Group, Inc., and TP Management Co. has officially unveiled plans to redevelop and modernize the historic Jewelers Building at 35 East Wacker Drive.
The landmark 1927 high-rise, instantly recognizable by its Beaux-Arts detailing and terra-cotta-clad dome, will receive extensive hospitality-driven improvements intended to “elevate the daily experience,” says a recent announcement, for corporate tenants and the public.
The centerpiece of the ambitious renovation will be new restaurants and bars – an all-day bar in the ground floor lobby, a fine-dining restaurant, and a 25th-floor rooftop restaurant and bar overlooking the Chicago River.
The culinary and beverage offerings are from Roanoke Hospitality Group – an affiliate of The Prime Group – known for running prominent downtown staples like The Grill on 21, La Bella, and Mexican Radio.
New conference center, coworking lounge part of upgrades
Beyond the dining options, the renovation will also modernize workspaces. A new conference center and meeting rooms will accommodate 130 people and include state-of-the-art audiovisual systems. A fully-equipped coworking lounge will give tenants scalable spaces for temporary needs. And the building’s fitness center will be expanded with high-end equipment and locker rooms that include infrared saunas and cold-plunge baths.
“This building will always be a crown jewel of Chicago’s architectural legacy,” 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.”
Construction will begin in fall 2026, with the new restaurant and bar concepts scheduled to open in 2027.
Designed by the legendary architectural duo of Joachim Giaver and Frederick Dinkelberg, the 40-story high-rise was the world’s tallest building outside of New York when it opened in 1927. It was designated an official Chicago Landmark in 1994.
