Downtown Chicago’s hot hospitality segment is showing no signs of cooling as the South Loop’s latest high-rise hotel prepares to kick off construction at the southeast corner of Wabash and 11th Street. Though some early preparation and pile-driving was reported last month, the development received its first permit late last week. Estimated at $15,000,000, the scope of the work allows construction of the tower’s foundation and superstructure up to the seventh floor. With the official city go-ahead in hand, caisson crews can now begin planting the 306-foot tower’s subterranean roots.
The 30-story project comes from architect Lothan Van Hook DeStefano and Hinsdale-based developer/operator S.B. Yen Management Group and contains a 196-room Homewood Hilton, a separate 85-room extended-stay hotel, 3,500 square feet of retail, and a 57-car garage. Known as both 1101 S. Wabash and 55 E. 11th Street, the site was previously home to an unremarkable two-story parking garage that was demolished in early 2016.
Developers are expecting construction to take around 22 months.