Massive, 76-Story Apartment Tower Planned For River North Parking Lot At State & Chicago
By Stephen Gossett in News on Oct 11, 2017 5:04PM
We knew developers would have big plans for the Holy Name Cathedral surface parking lot, at the intersection of State Street and Chicago Avenue, but now it's official. JDL Development is looking to build two residential towers at the site, at a cost of $700 million. One tower would rise 45 stories, and a second would stretch a whopping 76 stories tall. As pointed out by Crain's, who first reported the story, it would be one of the largest residential projects to ever hit downtown; and the taller sibling of the two towers, at 1,011 feet, would be nearly as tall as the John Hancock Center. It would be the sixth tallest building in the city if built, according to Curbed.
Aside from the cost and size, here are a few other specs for the proposal: Overall, the towers would house 795 apartments and 75 luxury condos. The condos would cost at least $2 million to purchase and would land on the top floors of the big tower. The proposal also calls for a fitness center, a grocery store, and restaurants on the lower floors of the 76-story tower. The monster project would be designed by Hartshorne Plunkard Architecture and Goettsch Partners, the firm behind the stunning, new 150 North Riverside and linked to the overhaul near the old Tribune printing plant.
The mammoth project will however require a zoning change if it's to proceed up. JDL President Jim Letchinger will make his case at community meeting held by Ald. Brian Hopkins (2nd) on Oct. 24.
The surface lot was previously owned by the Archdiocese of Chicago, which sold earlier this year to JDL for a windfall $115 million. As we mentioned at the time of the sale, the plot's coveted downtown location, sprawling size and proximity to 'L' transit (adjacent to the Red Line Chicago stop) made it seem like a fast fit for upscale-development potential.
