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Sterling Bay has its work cut out for it in repositioning 311 West Monroe, which it bought for $61M from GlenStar Properties in May. But Sterling Bay earned a reputation for adaptive reuse and its plans for the 380K SF building, especially the amenities, are bold, according to Crain's Chicago Business.
Sterling Bay's amenity package for 311 West Monroe will feature standbys like a fitness center, a yoga room and a tenant lounge, along with a new wrinkle in Chicago's amenities arms race: a four-lane bowling alley in the basement.
Bowling alleys are not a new amenity — Infosys had one built for its employees, and New York City's The Aldyn has one for its residents — but some developers believe bowling alleys are a terrible amenity. But in Chicago's office market, which features rooftop decks, dedicated entrances, half-basketball courts and golf simulators, a bowling alley would attract immediate interest from tenants.
Sterling Bay plans to spend at least $45M upgrading 311 West Monroe and expects to have most of the non-tenant-related upgrades completed within a year.
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