More College Dorms Coming to the Neighborhood?

If there is one trend that seems to be picking up speed in the South Loop, it's the expansion of downtown universities and colleges. With that seems to be a demand for housing and recently there have been a couple of stories of new dorms or as the Chicago Sun-Times is reporting, old buildings being converted to house students:

The new owner of the Old Colony Building would like to turn the South Loop landmark into student housing. The Old Colony at 407 S. Dearborn is an 1894 Holabird & Roche design that's a seminal work of the "Chicago School" or architecture.

(Image from Sun-Times Library)