41-story office and hotel tower planned in West Loop
Mizrachi’s Third Millennium Partners hopes to start work as soon at the second quarter of next year on the project at 590 W. Madison St., which Crain’s previously reported was in the works. Designed by Goettsch Partners, the 1.2 million-square-foot building is expected to cost about $400 million, estimated Mizrachi, who’s based in Boca Raton, Fla.
He plans a 350-room, four-star hotel topped by about 600,000 square feet of offices, said Mark Gunderson, an executive vice president at Chicago-based brokerage J.F. McKinney & Associates, which is seeking tenants to lease the office space and launch the development.
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