360 Chicago Plans New 96th-Floor Event Venue for 2028
The 14,000-square-foot space will expand the current observation deck capacity for events beginning in 2028.
Updated on Oct. 15, 2026 in Openings & Closings
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360 Chicago is launching Elevaire Chicago, a new 14,000-square-foot private event venue located on the 96th floor of 875 N. Michigan Ave. The project marks a significant expansion of the existing observation deck, which will eventually span the 94th through 96th floors.
Why it matters
The development represents a major repurposing of prime real estate in the former Signature Room space, which closed in September 2023 after 30 years of operation. For local venue operators, the project highlights a shift toward high-capacity, multi-level event spaces in vertical commercial assets.
The new 14,000-square-foot venue is part of an expansion that will bring the total observation deck footprint to 50,000 square feet. This project occupies the space formerly held by the Signature Room, which operated at the location for 30 years.
The players
360 Chicago
An observation deck operator located on the 94th floor of the former John Hancock Center.
Magnicity
A global company that operates observation decks and tourism-focused vertical real estate.
Skidmore, Owings & Merrill
An international architecture, urban planning, and engineering firm.
The details
Magnicity, which acquired the 96th-floor space in 2024, is working with architecture firm Skidmore, Owings & Merrill to renovate the site. The redesign features a three-story staircase connecting the 94th, 95th, and 96th floors, allowing for integrated operations across the expanded observation and event levels.
Timeline
September 2023: The Signature Room restaurant and lounge ceased operations.
2024: Magnicity acquired the 96th-floor space.
October 15, 2026: 360 Chicago announced the new Elevaire Chicago venue.
Early 2027: The venue is set to begin accepting private event bookings.
2028: The venue is scheduled to open to the public.
Market Landscape
This project serves as the definitive redevelopment plan for the space following the September 2023 closure of the Signature Room. It signals a move toward high-altitude, integrated event experiences in Chicago's premium commercial towers.
Operators of large-scale event venues should track the competitive shift in the downtown market as this 14,000-square-foot space prepares to come online. The integrated floor-to-floor design serves as a case study in maximizing occupancy and utility within high-rise commercial assets.
The takeaway
The move demonstrates a strategic focus on tiered vertical venue management as a method to drive revenue from previously static floor plates. Keep an eye on the 2028 opening date as a benchmark for premium venue pricing and capacity trends in the downtown core.
Further reading
For more news on local commercial real estate changes, browse our Openings & Closings section.
Source note: This article includes information reported by Chicago Sun-Times.
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