The long-discussed, potential project at 151 N. Michigan is once again changing course, according to recent reports. What was previously going to be a 41-story commercial tower is now going to be a significantly smaller 3-story commercial building.
The existing building, which lies at the corner of Michigan Avenue and Randolph Street, has been vacant sine 2008 when La Strada Ristorante closed. But given its small footprint, development challenges seem to make any future project a bit more complicated.
The owners, Park Ridge-based BJB Partners, also had designs on building a 184-unit apartment tower, with updated plans to add a hotel in 2105. But that plan inevitably dissolved.
The new plan, according to multiple reports, will allow the developer to
June 2022
There are 3 blog entries for June 2022.
Proposed Gold Coast High-Rise Would Bring 34 Luxury Condos To Maple Street
A new developer has plans to develop a condo building in the Gold Coast where another condo project failed to get off the ground. The latest plan calls for designing a 34-story condo tower on Maple Street where a four-story building now stands.
Previously, a different developer had hoped to construct a 22-story condo tower at the site. While the former plan only called for a dozen large condos, the new plan is for 54 condos and some parking spaces.
It’s expected the condos would likely range in size from around 1,300 to 6,000 square feet for a two-level penthouse unit. Plans also call for a drive-through motor court leading to an alley on the east side of the building, as well as a pedestrian lobby on the opposite side of the building.
Recently released
Developers Planning 21-Story, 248-Unit Apartment Tower Just Off Mag Mile
A Chicago-based development group is eyeing a 21-story apartment tower just one block east of the Magnificent Mile, a project that could be the first new construction apartments Streeterville has seen in five years.
According to Crain’s, Chicago-based Marek Development is partnering with Chicago-based architecture firm NORR to bring 248 apartments to the northeast corner of East Grand Avenue and North St. Clair Street, and the building would also include 41,000 square feet of office space, 8,000 square feet of ground-floor retail space, and parking for 100 cars.
Believe it or not, downtown apartment construction has been on the upswing over the past year as rents and occupancies have recovered fro pandemic-induced declines.
Despite Streeterville being a