Photos courtesy of architect Solomon Cordwell Buenz

Chicago's iconic Magnificent Mile is set for a potential transformation with a fresh proposal for a high-rise apartment building that could bring hundreds of new residents to this bustling retail corridor. In a city where downtown living continues to thrive despite economic shifts, developers are eyeing underutilized sites to blend housing with commercial spaces. This latest plan, unveiled recently, targets a prime spot currently occupied by a well-known athletic wear retailer, signaling a shift toward more mixed-use developments in the area.

The project comes from Atlanta-headquartered AMLI Residential, a company with a strong footprint in Chicago through existing properties in neighborhoods like the South Loop and River North. They specialize in upscale apartment communities, emphasizing modern amenities and sustainable features in urban settings. For this venture, AMLI has partnered with local architect Solomon Cordwell Buenz, known for their sleek, contemporary designs that integrate seamlessly into Chicago's skyline.

At the heart of the proposal is a 56-story tower reaching 668 feet, planned for 669 North Michigan Avenue in the vibrant Streeterville neighborhood. This location sits at the northeast intersection of Michigan Avenue and Erie Street, stretching northward almost to Huron Street. Importantly, the neighboring building at 679 North Michigan Avenue, which hosts a popular fashion outlet, will stay intact and isn't part of the redevelopment. The site itself has a rich retail history; it was redeveloped in the early 1990s from a single-tenant department store into multi-storefront space, and it changed hands in 2015 as part of a $295 million deal involving connected properties.

If approved, the tower would house 498 apartments, adding significant residential density to an area traditionally dominated by shopping and tourism. To align with Chicago's Affordable Requirements Ordinance, around 10% of the units—about 50—would be offered at affordable rates, with the developer contributing fees in lieu for the remaining obligation. This move supports the city's push for inclusive housing amid rising downtown rents, which have climbed to nearly $4 per square foot in premium buildings due to limited new supply.

The building's base would consist of an eight-story podium designed to maintain the street-level vibrancy of the Mag Mile. The ground floor would feature a welcoming residential lobby, while the first two levels dedicate roughly 27,000 square feet to retail—perfect for continuing the area's shopping appeal. Floors three through seven are earmarked for 199 parking spots, addressing urban mobility needs, and the eighth floor would handle mechanical operations plus practical additions like a leasing office and storage for 200 bicycles. The topmost 56th floor would also focus on mechanical systems. Vehicle entry for parking is slated via Erie Street, with service areas like loading and waste management tucked away in a rear alley parallel to Michigan Avenue.

Residents would enjoy premium perks, starting with a pool deck on the ninth floor at the southern podium edge, offering a relaxing outdoor space amid the city hustle. The tower itself rises from the northern section, with the ninth floor also serving as the initial level for apartments and including dedicated amenity areas. Another set of communal spaces is planned for the 41st floor, likely featuring fitness centers, lounges, or similar facilities common in AMLI's portfolio. The overall Floor Area Ratio stands at 22.2, indicating a dense but efficient use of the site.

Aesthetically, the design emphasizes modernity with a glass-and-metal exterior accented by vertical fins for visual interest and potential shading benefits. The podium's lower retail portions would use transparent storefront glazing to invite pedestrians, while upper parking levels mirror the tower's materials. Mechanical areas get louvered screens that blend with the overall look, and the podium's northern side incorporates panels mimicking stone for a grounded feel.

This proposal arrives at a pivotal time for the Magnificent Mile, which has seen challenges from e-commerce and post-pandemic shifts but is rebounding with adaptive reuse projects. Nearby, an office building at 500 North Michigan Avenue is being converted into 320 apartments, reflecting a broader trend toward residential infill to boost foot traffic and economic vitality. AMLI's plan could further this momentum, turning a retail-only block into a lively, 24/7 community hub.

The project still needs green lights from the Chicago Plan Commission and City Council, with no firm timelines yet for groundbreaking or completion. Community input is being sought, and locals can share thoughts through an online form. As Chicago continues to evolve its downtown, developments like this highlight the potential for blending heritage with forward-thinking urbanism. Stay tuned— this could be a game-changer for Streeterville and beyond.

Photos courtesy of architect Solomon Cordwell Buenz