Somewhat surprising reports surfaced last week that could reshape and redefine one of downtown Chicago's most iconic buildings, The Tribune Tower. Tribune Media, which owns and manages the famed neo-Gothic tower at 435 N. Michigan Avenue, recently unveiled plans that could possibly triple the building's square footage to include residential, retail, and even hotel space should the redevelopment project move forward.
As noted by the Chicago Tribune, the Tribune Tower currently has around 737,000 square feet of space, but is actually zoned for 2.4 million square feet, allowing for almost 2 million more square feet of potential room to grow.
Although many already consider the 1935 structure to be a popular attraction for tourists to visit on their way down to the Magnificent Mile, Tribune Media wants to transform its identity and truly make it a destination for both visitors and full time residents of Chicago alike.
Today, Chicago's Tribune Tower stands 34 stories high and was named a Chicago landmark all the way back in 1989. More recently, management has been working to fill long vacant space inside the building in order to provide some cash flow in the interim, as Howell's & Hood and the recently opened Dylan's Candy Bar are both relatively new tenants at the tower. Despite the ambitious plans that would surely enhance this underutilized stretch of Michigan Avenue however, nothing is expected to happen anytime soon, as any redevelopment plans have to be approved by multiple levels of government, including the Commission on Chicago Landmarks.