The space atop the former John Hancock building once occupied by the famous Signature Room restaurant will soon transform into Chicago’s first-ever “multi-story observation deck” and private event venue owned and operated by 360 CHICAGO, officials announced during a press conference Wednesday.

360 CHICAGO, which already operates the observation deck on the 94th floor, purchased the building’s 95th and 96th floor last year, managing director Nichole Benolken said. The new plan will remove a portion of the 95th floor, Benolken said, making way for a space that connects all three floor via a “bespoke, grand staircase.”

A rendering of the space showed a “three story atrium,” surrounded by windows and views of the city and Lake Michigan.

“By opening up this slab and uniting all three levels into one spectacular, cohesive space…this will be one of the few multistory observation decks in the world, as well as the only one in Chicago.”

According to Benolken, the 96th floor will be “reimagined” into a private event venue, complete with city views.

“There is no comparable space in Chicago or the Midwest for intimate and large events,” Benolken said. “It will redefine the meaning of “iconic Chicago gatherings and celebrations.”

The transformation of the nearly 30,000 square-foot space, Benolken said, costs in the “tens of millions.” The full experience is expected to open to the public in the next 18-24 months.

The group previous announced it had purchased the floors, and was “exploring a number of options” as part of its transformation, though a restaurant was not part of the plans.

The Signature Room, the longtime fine dining restaurant on the tower’s 95th floor, abruptly closed in September of 2023, with its operators citing “economic issues.”

A popular spot for dinner and weekend brunch, the high-end establishment required guests to follow a dress code and catered to generations of Chicagoans and visitors since it opened in 1993.