In September 2022, the ambition to revitalize the historic LaSalle Street Corridor in Chicago was announced. Plagued with vacancies, the corridor is filled with empty historic office buildings that no longer meet the current market demands of new office tenants. A joint venture between Prime/Capri Interests LLC. The Prime Group, Inc. and Capri Investment Group rose to the occasion and proposed a conversion of 111 West Monroe to a mix-use building that will house 349 apartments and 226 hotel rooms.

To allow natural light to reach the new apartments and hotel rooms, the plan includes carving out a 60-foot by 70-foot atrium inside the building, avoiding any alterations to the street-facing facades.

On the ground floor, hotel guests will enter through the historic lobby off W. Monroe St., with the residential entry located adjacent to the hotel entrance. A new fine dining restaurant is planned for the lobby, and parking spaces will be built underground.

Two floors will be turned into a world-class spa and fitness center, and on the rooftop, the original Monroe Club will be reopened as an amenity for residents and hotel guests.