In transforming the historic 19th-century Chicago Athletic Association building—designed circa 1893—into a modern boutique hotel, contractors took extraordinary care to preserve the building’s rich Venetian Gothic architectural details while creating a contemporary hospitality environment.

If gains among the Midwest’s largest contractors weren’t as sweeping as those for the region’s major design firms in 2014, key indicators nevertheless suggest regional builders are emerging from the deep economic hole that engulfed them for years.

If a rising tide lifts all boats, the resurgent manufacturing sector has several Midwest contractors riding a welcome wave of activity not seen in years.