Northwestern Mutual Reveals Plans for Former University Club
New permit reveals insurance company's 'luxury' project.
University Club in July 2024. Photo by Jeramey Jannene.
Northwestern Mutual is planning to redevelop the University Club building into a 35-room “luxury boutique hotel.”
The insurance company announced it would acquire the shuttered private club, 924 E. Wells St., in March 2024, but never revealed its plans for the property just north of its corporate campus.
But a newly-filed building permit reveals the selection.
“Final program will include meeting/banquet/ballroom spaces, food and beverage spaces, recreation/fitness spaces, and a 35-key luxury boutique hotel,” says a description included with a commercial alteration permit.
The design work is being led by Kahler Slater, with Oxeland Group serving as the general contractor. General renovation work has been underway for several months.
It wouldn’t be the first hotel in the 58,000-square-foot building. University Club previously used a portion of the building for hotel rooms. Other spaces in the building were used for a private restaurant and bar, a ballroom and meeting rooms.
The University Club moved into the six-story building, which overlooks Juneau Park and Lake Michigan, in 1928. But the club abruptly closed the facility in December 2023, amid financial difficulties. It had merged with the Tripoli Country Club in 2016, and now only the country club remains. The club reverted to the Tripoli name earlier in 2025.
Northwestern Mutual secured a broad zoning change in May 2024 to allow a variety of uses, including a hotel, and paid $4.25 million for the property the following month. The job cost for the latest permit is listed as “TBD.”
The permit says that a “reconfiguration and one-story addition is proposed to the non-historic north annex.” A northern addition to the building currently serves as an entryway to the parking structure and a connection to University Club Tower, a neighboring condominium tower. A restaurant and bar is planned for the sixth floor of the former club.
Because the building is locally designated a historic structure, any changes to the exterior would still require approval from the Historic Preservation Commission.
The Georgian Revival-style building was designed by architect John Russell Pope. According to a Wisconsin Historical Society report, the partial sixth floor was added in 1953. The club was founded in 1898 by a group of college graduates with a mission to share ideas and grow relationships.
The project is not Northwestern Mutual’s only one underway. The company is also scheduled to complete its renovation and expansion of its North Building next year. The 18-story structure has been reclad in glass as part of a $500 million project that will also shutter its Franklin campus and relocate employees downtown.
In a statement issued after this article was initially published, Northwestern Mutual said it would share additional details in the coming months. “In June 2024, Northwestern Mutual acquired the historic University Club property at 924 E. Wells St. to preserve its legacy and keep it a vibrant destination for the community’s future. Over the past 16 months, we have addressed mechanical issues and completed deferred maintenance. As originally shared, our redevelopment plans have been intended to honor the building’s original functions, including food service facilities, meeting and event spaces, guest rooms, and a sky lounge – ideal for a boutique hotel,” said a company spokesperson.
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