Richelieu Flats at 318 South michigan avenue, Chicago
Formerly known as the Richelieu Hotel during the time of the Columbian Exposition, Richelieu Flats is an adaptive reuse development of a seven-story office building that is part of the historic South Michigan Avenue “streetwall.” With the completion of Richelieu Flats, Metropolitan Properties will have redeveloped the entire 300 block of South Michigan Avenue. The condominium development offers a truly unique residential opportunity, with the intimacy of a boutique building paired with unparalleled views of, and access to, Grant Park, Millennium Park and the lakefront. In addition to four full-floor luxury residences, the development also includes a duplex penthouse being sold as raw, customizable space, and a 10,600-square-foot full-service restaurant slated to open in spring 2013. The western portion of the original building has been replaced with a steel and concrete structure to provide three loading dock berths and parking for residents at 310 and 318 South Michigan Avenue. Sales are currently underway for the residential portion of the development.
In addition to leading the redevelopment of one of the most historic sections of Michigan Avenue, Metropolitan Properties has undertaken challenging projects throughout Chicago involving both adaptive reuse as well as new-construction developments.