First public tour of Elgin Tower Building set for Thursday

The first public tour of the renovated historic Elgin Tower Building takes place Thursday, the site's property manager said.

Chris Pezza of Miller Chicago Real Estate said the open house from 6 to 8 p.m. Thursday is for people interested in moving into the building this month, February or March.

The tour will include the lobby, a one-bedroom model on the second floor, the gym, business center and game room. Those interested should email elgintower@millerchicagorealestate.com to book a time slot.

Another tour will be scheduled for people interested in moving in April, May or June, and then the building will be opened to the rest of the market, Pezza said.

Elgin Community Development Director Marc Mylott confirmed that occupancy of the building was approved.

Pezza said monthly rents range from $950 to $1,700 for 1- and 2-bedroom apartments. All units have central A/C, dishwasher and laundry, and premium units have additional features like kitchen islands and walk-in closets, Pezza said.

The architects worked to ensure that all 44 units could accommodate a queen size bed, however a couple can only fit a full-size bed, Pezza said. The elevator shafts are small, so large couches might need to be moved up the staircase.

The 1920s-era, 15-story building previously held offices but fell into disrepair and was shut down in 2014. It was bought by Capstone Development Group of St. Louis, which broke ground in September 2016. The project took longer than anticipated because of historic preservation requirements, officials said.

"All the hard work has come to fruition and we could not be more proud of the results," Pezza said. "A new timeline for the Elgin Tower starts Thursday and we cannot wait to welcome the first residents lucky enough to say they are a part of making history. We cannot thank everyone enough for their support in bringing the Tower back to life."

The developers had said the project amounts to about $16.6 million. That includes $6.35 million in tax increment financing money from the city, plus several million dollars in state and federal historic tax credits.

The city in November denied a Daily Herald request under the Freedom of Information Act to obtain Capstone's revised redevelopment cost budget for the project, citing an exemption regarding disclosure of commercial or financial information that would cause competitive harm to a business.

The Daily Herald has filed a request for review of that denial with the Attorney General's office.