CHICAGO (CBS) — Construction is underway to turn the old Cook County Hospital Building into a brand new multi-use development.

Chicago Mayor Rahm Emanuel and Cook County Board President Toni Preckwinkle were among the individuals at the ground breaking ceremony. The space will be the future home of a major hotel, medical offices, and retail space located at 1835 West Harrison Street.

old cook co hospital Old Cook County Hospital Building To Get $135M Facelift

Ground breaking ceremony at the old Cook County Hospital building.

The 102-year-old building is listed in the National Registry of Historic Places, but has been vacant for years.

A private development team is investing $135 million in the project.

The team says they have a lot of work ahead of them, siting the inside of the hospital is deteriorating, paint is peeling off the walls, and graffiti on the hospital directory.

The developers say the renovation will bring in billions of dollars in investments, as well as jobs to the near West side.