A Chicago-based developer hopes to bring two new high-rise buildings to the Gold Coast, combining to add more than 450 new apartments and thousands of square feet of new retail space to the area. Newcastle Limited wants to build the properties on State Street at the site of some vacant commercial buildings and a Barnes & Noble bookstore.
The first building would go on the corner of Division and State where some low-rise structures currently exist. This 11-story building would feature around 100 rental units, amenity space, a garage and ground-level retail space.
A much larger, 39-story tower is slated to go in at the site of the bookstore on State Street. Here, developers plan to add more than 360 rental apartments, more commercial space and more parking.
Some area neighbors have already raised concerns about parking, traffic and the possibility of blocking views in the neighborhood. If both projects go through, the developer hopes to break ground early next year.