Description

Jones Lang LaSalle, Inc. ("JLL"), as exclusive advisor, is pleased to present The Vault located at 821 17th Street (the "Property" or "Building") — a fully repositioned, 107,630 SF office and retail landmark in the heart of downtown Denver's financial district on iconic 17th Street.

Ownership has invested over $22.4M into a comprehensive renovation, delivering a new lobby, restored 1st and 2nd floors, full exterior façade restoration, and modernized base-building systems. In addition, eight of nine floors are fully renovated and move-in ready, including furnished spec suites on floors 6-9 — giving an investor the opportunity to drive immediate occupancy without the cost, risk, or timeline of executing that capital program.

The Vault is offered fully unencumbered by existing leases, providing an investor with the flexibility to pursue office, adaptive reuse, or a residential or hospitality conversion. A grand, 23-foot two-story atrium anchors the ground floor as a signature centerpiece regardless of ultimate use.

The Building also offers a rare full-building opportunity for a company seeking a signature Denver headquarters — allowing an owner-user to occupy immediately and or grow into the Building over time rather than fund a multi-year buildout.

Built in 1907 as one of the first reinforced-concrete buildings west of the Mississippi and designated a Denver Landmark in 1977, The Vault pairs irreplaceable historic character with a fully reset, institutional-quality basis.

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Attributes

Building area net

9,999 m²

Year built

1907

Number of floors

Floor to ceiling height

7.01 m

Media

Investment Highlights

Irreplaceable Historic Landmark: The original 1907 “Ideal Building”, the first major multi-story reinforced-concrete building west of the Mississippi, a Denver landmark and National Register property that cannot be replicated.

Fully Repositioned: The Vault gives an owner-user or investor a fully modernized, institutionally restored asset and the rare ability to capture 100% of the leasing upside without the cost, risk, or timeline of repositioning a historic building.

Completed Capital Improvements: Over $22.4M invested into the Building, delivering a fully restored 1st and 2nd floor, a new lobby, improved common areas and restrooms, full exterior historic façade restoration, base-building MEP/FLS/roof systems, and spec suites on floors 1-4, and 6-9 (fully furnished), providing an investor a fully modernized, institutionally repositioned asset at a reset basis.

Grand 1st Floor Space: The Vault's two-story entry hall stands among Denver's finest historic spaces with a 23’ open ceiling, lit by paired stained-glass skylights beneath hand-painted ceiling beams by artist John E. Thompson. Beams are framed by Byzantine column capitals carved with Western motifs, and anchored by Arnold Rönnebeck's sculpted mezzanine frieze titled "The History of Money."

Parking Easement & Ratio: The Vault benefits from a durable, appurtenant Parking Availability Agreement providing Building tenants access to up to 200 spaces — a ratio of 1.86 per 1,000 SF, well above what most CBD assets can offer — at the Residence Inn parking garage directly across Champa Street. This rare, long-term parking solution differentiates The Vault from competing historic office product in the submarket.

Conversion Opportunity: Unencumbered by existing leases, The Vault offers investors the flexibility to explore a range of adaptive reuse strategies, including boutique hotel or residential conversion. The property’s iconic two-story historic atrium creates a compelling centerpiece for hospitality, residential amenities, or event programming.

Premier 17th Street Location: Located at 821 17th Street in the heart of downtown Denver’s original financial core, historically known as “The Wall Street of the West”, and surrounded by an established and growing mix of retail and restaurants.

Retail & F&B Opportunity: 2,007 SF retail space located at the corner of 17th and Champa with ideal visibility and direct access to hotels, entertainment venues, and public transportation—ideally suited to innovative food-and-beverage concepts.

Compelling Going-In Basis: The Vault is offered at a reset basis. An investor benefits from over $22.4M of capital already invested into the Building’s repositioning, acquiring a renovated, institutional-quality asset without assuming the cost, risk, or multi-year timeline of executing that capital program.