Bank Calumet building revitalization moving forward
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The revitalization of a nearly 100-year-old historic building in downtown Hammond has surpassed the halfway point. Our partners at The Times of Northwest Indiana report the $24 million project, which will turn the historic Bank Calumet building into apartments and retail space, is slated for completion in time for the building’s 100th anniversary.
The nine-story building was constructed in 1924 but has been closed since 2015.
Once the redevelopment is complete, the building, which will be known as The Banc, will feature 100 market-rate apartment units, as well as a wedding venue in the lobby.
Plans also call for a coworking space, coffee shop and potentially a speakeasy in the building’s basement, according to the publication.
“We are excited we are over 50% through construction and are transitioning to leasing and welcoming our new residents here soon,” Anastacia Fratto, principal of NWI Development group, told The Times “There’s construction all around us. Between the South Shore West Lake extension coming through downtown and all the streetscape and roadway improvements the city of Hammond is constructing, we are in the center of some significant investment that is taking place in downtown.”
The apartments range from studio to two-bedroom units with amenities such as a fitness center bike storage and a dog washing station. A Chicago-based restaurant group is also looking to occupy about 1,000 square feet of ground-floor space.
The event space could be used for corporate events and up to 50 weddings a year.
“The event center will be a destination for people that want to fully embrace the architectural beauty of this 1924 old banking hall,” Fratto said. “The space naturally wants to remain open so you can experience the full volume of these 38-foot ceilings, which we were told were brought on a boat from Germany when this was built. It is very unique and one-of-a-kind space to have your next celebration.”
The building was home to Bank Calumet until 2006, when the bank was acquired by First Midwest Bank, which ultimately closed the building. First Midwest itself was acquired by Evansville-based Old National Bank in February 2022 in a $6.5 billion deal.