If you’ve strolled through the Loop lately, you’ve probably noticed the quiet — not the peaceful kind, but the empty kind. Those once-busy office buildings? Many now sit half-vacant, victims of post-pandemic remote work and high commercial vacancies. But here’s where it gets interesting: a new study says these empty towers could become the dorms of the future.
According to a report by the architecture firm Gensler and the Pew Charitable Trusts, converting old office buildings into co-living residential units — think microapartments with shared kitchens, lounges, and laundry — could address three big headaches:
The downtown vacancy crisis,
The lack of affordable housing, and
The push to revitalize Chicago’s Central Business District.
Instead of pricey, traditional one- or two-bedroom apartments (which don’t pencil out financially when retrofitting office space), the co-living model offers a creative, lower-cost alternative. Residents would have small private bedrooms and personal storage but share bathrooms, kitchens, and hangout areas — much like a college dorm or a D.C.-style shared rowhouse setup.
Pew’s project director Alex Horowitz points out that after the pandemic, office-to-residential conversions weren’t delivering much due to high construction costs and limited unit yield. But shifting to micro-style units with shared amenities could flip the equation — especially if building owners partner with local colleges or hospitals to fill these spaces.
For a city like Chicago, where young professionals often can’t afford their own apartments, this might be a bold but realistic path forward. Plus, filling empty buildings brings life back to our urban core, benefiting everyone from local coffee shops to public transit systems.
Takeaway:
Will we start seeing dorm-style skyscrapers downtown? Maybe. And if you ask me — as the Best South Loop Realtor — it’s a trend worth watching closely. If you’re curious about how these changes might impact Chicago’s real estate market or your own buying and selling plans, let’s chat! Reach out anytime, and let’s make sense of where this city is headed.