by Monica Chamness
Staff Writer
As the renovations and restoration at the Elks Building on the corner of Laura and West Adams streets continues, so does the search for tenants for the historic structure.
“We have several people looking at it [different units within the complex],” said Cynthia Neal, vice president of Elks Building Partners, LP. “Coming online in July is about 1,898 square feet on [level] one and 298 square feet on two. That’s an ideal corner identity. Because of our location relative to numerous things that are going on downtown, it’s perfect for attorneys, especially due to its proximity to the [new] courthouse.”
Currently, there is 650 square feet on West Adams Street available at ground level, 6,000 square feet on the second floor and 10,000 square feet on the top floor. All of the space is available for either lease or purchase. Street level locations can be used for restaurants or retailers; the upper levels, which can be sub-divided, are best suited for offices. Current street-level tenants include Gus and Company Shoe & Luggage Repair, an optometrist office,Smoothie King, LaCena restaurant, the Christian Science Reading Room and Crawford-Wilcox Opticians. In March, the Rose Agency will become the newest tenant at ground level on Laura Street.
The third floor of the building is being marketed to professionals in the advertising, technology, design, architecture and professional services fields. Boasting 30-foot ceilings, hardwood floors, historic light fixtures, a recessed arcade balcony, cornice molding, original marble tablets in the walls and a huge fireplace, the third floor is the most impressive in the building. Electricians are currently wiring the floor.
By summer, the building’s exterior will move into the final phase of remodeling. According to Neal, the terracotta tile for the roof was manufactured to match the existing roof’s aged appearance.
“We just put a mission barrel tile roof on,” said Neal. “We will be able to put back the original storefront of the building that existed when the building was completed in 1929. I saved a lot of the original trim so we could put it back.”
The building has been undergoing a major overhaul the last few years. All of the plumbing and electrical work has been replaced, an elevator has been installed and the telephone lines and sprinklers have been repaired to make the building compliant with the American with Disabilities Act. New bathrooms were added to the common areas and the exterior will be repainted with new downspouts and restored oak floors. Work on the masonry and tuckpointing (repairs to the joints between the mortar and masonry) is already underway. The balcony tile is being restored and many of the windows are being replaced. Some demolition remains before all of the surfaces can be restored. Cost estimates for the total project were not available.
For the vacant space on the first floor, Neal has been entertaining a few prospective tenants. She said several individuals are looking at the second and third floors. List price is $14.75 per square-foot on an annual basis. Purchase prices for the upper levels range from $125 to $145 per square-foot.
“The challenge is showing them we’re right on the crest of the wave in regard to downtown revitalization,” said Neal.
One feature the developers are restoring is divided lights, small individual panes of glass for windows instead of the conventional glass sheet with a grid overlay.
Neal has been drawing from her experience working with developers, attorneys and construction companies to make the Elks Building project a success.
“Construction is directly related to marketing because construction in historic properties is product development,” said Neal. “So you have to work in your positioning, identity and brand building in conjunction with product development. You have to begin the marketing before you’re done, so you have to know where the building is going and what it’s going to be when it’s finished so that you can ensure that those people that are interested in leasing or purchasing space get a clear image of what sort of luxury they will be in.”