Rogers & Hall Building, W. P. Dunn Building, Chicago, Rock Island & Pacific Railroad Building, Folio Square
Life Span: 1912-Present
Location: 124 W. Polk, 723 South LaSalle Street
Architect: A. S. Alschuler
Chicago Examiner, April 9, 1911
New La Salle Street Building Is Planned
Rogers & Hall Company. printers, have acquired a site and will construct a new building for their own occupancy. The Northern Trust Compaus, trustee for the estate of S. A. Kent. has purchased from Oliver C. Cody, the property at the northeast corner of La Sale and Polk streets, 50×100 feet. which adjoins 50 feet on La Salle street, which the estate has owned for some time, making a total area of 100×100 feet. The land has now leased by Rogers & Hall Company for 99 years at an annual rental for the first five years of $4,000. the next fire $4,500, for the succeeding ten $5,000 and for the rest of the term $6.000.
The average annual rental is $5,700, or 4 per cent on $142.000, equivalent to $1,400 a front foot and $14 a square foot. The transaction was negotiated by B. C. Waller, Jr. The lessees are having plans prepared for a handsome seven-story mill constructed building, which they will erect at that place to cost about $130,000.
The structure will be of an unusually substantial character, the carrying capacity of 300 pounds to the square foot and 250 pounds in the upper stories. Mr. Waller has in this connection negotiated, in behalf of Rogers & Hall Company. through Greenebaum Sons, a loan of $100.00 on the property for ten years with interest at 6 per cent.
Chicago Tribune, February 29, 1988
By David Ibata
Folio Square Lofts, one of the latest loft apartment projects on the Near South Side, will take its first tenants in June in the former headquarters of the Chicago, Rock Island & Pacific Railroad.
The approximately $7 million rehab at 124 W. Polk St. will produce 63 rental units of 1,000 to 1,100 square feet apiece, along with 12,000 square feet of retailing on the first floor and lower level.
The property has 10 floors and 110,000 square feet. Its developer is a limited partnership headed by Thomas A. Snitzer, Marshall Bennett, Eugene I. Ross, Henry Teague and Joel Mayer.
Snitzer also is one of the developers of the former Regensteiner Printing Co. building at 1224 W. Van Buren St. The Chicago Public Library will move its administration offices there in June as temporary quarters while a new central library is built.
Folio Square represents the latest generation of loft-type residences, Snitzer said.
“The first people to move to lofts got apartments that really were unfinished,” Snitzer said. “All those units offered were kitchens and bathrooms, and the tenant was responsible for putting in the partitions. It would take an awful long time to get an apartment presentable, but the advantage was, you’d get an apartment that was different from anyone else’s.”
As in earlier loft projects, every unit at 124 W. Polk will have a different layout. Unlike those pioneer developments, dwellings will have the finishes of conventional apartments.
In addition to having exposed, gray-painted structural framing members and restored masonry interior walls, units will have carpeting and new insulated windows up to 11 feet tall with mini-blinds. There also will be individually metered and controlled electric heat pumps for heating and cooling.
Kitchens will offer electric ranges, side-by-side refrigerators and dishwashers. Bathrooms will have theatrical lighting around mirrors and ceramic floor and wall tile. Both areas will offer white European-style contemporary cabinetry.
Some of the one-bedroom apartments will have dens convertible to a second bedroom. Rental rates have not been determined.
The building also will have a steam-cleaned, sealed and tuckpointed exterior; redone entrance and lobby; and new elevators and electrical and plumbing systems.
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