Sherman Associates has begun a $30 million historic redevelopment of the building that has been home to its corporate headquarters since 1999, located at 233 Park Ave. in Minneapolis.

The building has been named the J. I. Case Building and was recently listed on the National Register of Historic Places. The J. I. Case Threshing Machine Company built and occupied the building for more than 50 years as a branch house, distributing and marketing its farming equipment across the Midwest. Its 63,000-square-foot renovation is the latest of Sherman’s historic redevelopment projects.

The first floor is 15,000 square feet of restaurant space that will attract a large user or could be subdivided among multiple small users (formerly the location of the Old Spaghetti Factory that operated there for 25 years). The historic allure will be maintained with features like prominent floor-to-ceiling windows overlooking South Washington Avenue with 16-foot high ceilings that are present on the first floor.

Sherman will relocate its office of more than 90 employees from the second floor and basement to the third floor, which boasts 14,500 square feet. The second floor will be an 11,000-square-foot co-working space utilized by Sherman, with 3,700 square feet space available for sublease. A new feature staircase will connect the second and third floors. Sherman’s amenities will include a fitness center, bike storage and a new rooftop patio.

The most significant alteration of the building will be the addition of a 7,500-square-foot rooftop patio. The patio will be divided into three spaces: 4,500 square feet for a tenant-operated rooftop bar/restaurant, 1,100 square feet for Sherman headquarters and 2,000 square feet for a spa pool, sauna, and guest lounge subleased by Canopy by Hilton Minneapolis Mill District located next door.

The basement level will be completely renovated and include a 4,000-square-foot speakeasy concept operated by a local restauranteur.

A new elevator for handicap accessibility will be installed and run from the basement level to the rooftop level. The current elevator at the building’s main entrance will be upgraded. Existing underground parking will remain as is.

Sherman has received an allocation of federal and state historic tax credits to finance the project that is expected to be completed in the first half of 2023. Blumentals Architecture is the architect and Gardner Builders is the general contractor. During the redevelopment, Sherman’s corporate employees are working from the nearby co-working space, Fueled Collective.

The J. I. Case Building renovation is the final piece of Sherman’s redevelopment of the “Sherman block” made up of three buildings that are bordered by South Washington Avenue, Park Avenue, South 3rd Street and Chicago Avenue and includes the following, owned and operated by Sherman: East End Apartments, Starbucks, Canopy by Hilton hotel, and Umbra restaurant as well as commercial tenants, Trader Joe’s and Jimmy John’s.

Sherman has other developments under construction in the area. Moment, to be completed in late 2022, is located at 500 South 7th Street and is a 10-story mixed-use tower with 222 market-rate apartments, 15,000 square feet for the Firefighters For Healing Transitional Healing Center, 17,000-square-foot commercial space, 90 underground parking spaces for residential and 13 ground level parking spaces. A new Fire Station 1 for the City of Minneapolis is under construction at 275 5th Avenue South. The facility will be 20,300 square feet and completed in mid-2022.

The Downtown Minneapolis Neighborhood Association has installed two plaques on the J. I. Case Building’s exterior to highlight its historical relevance as part of its Historic Sign Project to enhance a sense of community in the neighborhood.

Sherman is leasing the spaces available in the building and has attracted attention from a variety of potential tenants including a high-end restaurant concept. It also has a relationship with a food hall operator in Colorado that has shown interest in the space.

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