Subway is Closed at 407 South Dearborn effective February 4, 2014. According to the sandwich makers at Subway, 407 South Dearborn is closing January 1, 2014. However, Subway officially is now closed as of February 4, 2014. A close Alternative location is within the Federal Building at 77 West Jackson and also one further east at 54 East Jackson. Since at least 2010 Subway has been located in the Northeast Corner of 407 S. Dearborn. It was recently announced that a developer would be converting the building from Commercial Office space to rental apartments. it is not known at this time whether the new tenants will be students, low income or any other type of residential tenant. Currently the building is 5% occupied by commercial tenants. Historically, this building was built in 1898 and in 2011 received an exterior rehab.