Just when you thought development around downtown Chicago couldn’t get anymore widespread, recent reports are detailing a unique proposal that would bring an ultra-slim, 41-story tower to Michigan Avenue just north of Millennium Park.
According to Crain’s, the new Loop tower would feature a mix of hotel rooms and full-time residences, and in a part of town that seems to be gaining a substantial amount of momentum with the opening of Maggie Daley Park and the announcement of the Mag Mile Apple Store moving further south to around this location, the idea seems to make a lot of sense.
As of now, it’s unclear whether the residences inside the building will rentals or condos, however, early plans call for about 74 units.
Initially, Park Ridge-based developer BJB Partners thought the site might be a good fit for a new rental tower, but after further consideration, including a mixture of hotel rooms seems to now be the end goal.
As more details emerge about a possible new development coming to 151 N. Michigan, we’ll fill you in, so be sure to check back soon!