Chicago’s Former Hancock Tower to Get $17M Renovation

A former fine-dining space in one of Chicago’s tallest towers is getting a makeover.

France-based Magnicity’s 360 Chicago is expanding its observation deck to include the 95th and 96th floors of 875 North Michigan Avenue, formerly known as the John Hancock Center, Crain’s reported.

It’s expected to be the most extensive interior renovation in the building’s 56-year history. The former home of the Signature Room restaurant and lounge, which closed in 2023, will be converted into immersive attractions and a 14,000-square-foot private event venue. Construction is expected to take 18 to 24 months.

“This is absolutely a testament to our belief in the future of the Magnificent Mile,” said Nichole Benolken, managing director of 360 Chicago. “And the Magnificent Mile is demonstrating an immense amount of momentum right now.”

The expansion comes as Magnicity, the parent company of 360 Chicago, looks to double down on experience-driven tourism.

The firm brought in global design firm WB-Immersive — best known for producing the 2024 Paris Olympics opening ceremony — to craft a new visitor experience. Architecture firm Skidmore, Owings & Merrill, which designed the tower half a century ago, is leading the renovation, which will add a grand staircase and swap out windows across all three floors to provide clearer views of the skyline and lakefront.

The Mag Mile has struggled with retail and office vacancies since the pandemic. Immersive attractions like this one are seen as more resilient to retail headwinds than traditional stores or restaurants, Benolken said. The new space won’t include any dining.

Magnicity acquired the two upper floors last year after the Signature Room’s operators cited safety concerns, economic hardship and negative publicity in their decision to close. The company invested $17 million into the 94th floor over a decade, adding features like Tilt, the glass platform that angles visitors over the street 1,000 feet below, and CloudBar, the city’s highest bar.

— Judah Duke