Newberry Mansion condo building

1980-present

By the late 1970s, the neighborhood’s reputation as a “district of the wealthy” was returning. Mansions and rowhouses along Dearborn Street were being converted back into private residences and small business offices. [1] And the same was happening to the Newberry Mansion. 

In 1978, the Chicago Tribune published an article highlighting real estate speculator Lowell Wohlfeil, whose next project was “converting the Lakeside Hotel at Dearborn and Chestnut streets into six deluxe trilevel condominiums.” [2]  He dubbed his new project the "Newberry Mansion."

By March of 1980, the first ads for the six “elegant” and “architecturally distinctive” condos [3] referred to as “some of the most distinctive living quarters ever offered in Chicago” [4] were published. A short (paid?) article in May described how it is “possible to step from one world to the next” at the Newberry Mansion, and said that while the interior of the building was reconstructed, “particular attention is being paid to the mansion’s special architectural features, including arched windows, corner bay windows, 12-foot ceilings, and wood-burning fireplaces.” The article mentioned condo costs ranging from $265,000-$295,000 with monthly maintenance fees of $226-252. [5] 

While the ads were gushing, sales were slow, perhaps reflecting a still up-and-coming neighborhood and high interest rates. The first condo went fairly quickly, but, six months on, the remaining five were still unsold.  The second one found a buyer in September.

In April of 1981, the Tribune published a profile of six Chicago millionaires – among them, Wohlfeil. It mentioned the Newberry Mansion among his recent large investments and quoted him as saying, “I’ve never been afraid to take a chance, and I’ve taken some really big ones…But I never lost a cent in real estate.” [6]

None of the residences appeared to have sold in 1981. In February of 1982, the remaining four went up for auction. After the auction and floods of ads for the final two condos, it seems that the entire building was filled with residents by the end of the year. 

And it hasn’t stood empty since.

[1] National Register of Historic Places registration form for the Washington Square Historic District

[2] Chicago Tribune, 23 Jul 1978, Page 189

[3] Chicago Tribune, 4 May 1980, Page 135

[4] Chicago Tribune, 23 March 1980, Page 112

[5] Chicago Tribune 22 May 1980, Page 160

[6] Chicago Tribune, 19 April 1981, Page 150