Filed under “something you don’t see everyday,” a new high-rise project in River North has recently been revealed that will combine office space and a new firehouse, which on the surface seems like an odd mixture. But upon further review, the bold idea actually make a lot of sense, both for the city and for the developer behind the project.
According to reports, developer Albert Friedman has already reached a deal with city officials regarding the new development, which would include about 614,000 square feet overall, including the new firehouse that would replace the existing Engine Co. 42 station located at 55 W. Illinois.
As alluded to above and as first detailed by Crain’s, the project seems to be a win-win for both the city and Friedman, who will essentially build a new, state-of-the-art firehouse in exchange for the opportunity to build a fancy new glass tower that would mostly include office space—something that’s also in high demand in River North along with new construction apartments.
Should the project move forward, the building’s sleek design will be from Chicago-based architecture firm DLR Group, and the estimated cost for the fire station alone is over $20 million; and that’s not including the $5 million Friedman has agreed to pay the city for the existing fire house.
Although an MOU has already been signed by both parties, it’s also being reported that the city will still consider competing proposals for the building site for about another 30 days or so.