That whole in the middle of River North is embarrassing at this point. How substantial infill avoids that area every cycle is beyond me. If that low-rise desert is ever built-out Chicago will have a massive, cohesive center that would put it on par with just about anywhere.
"On a more down note - I have some bad news with regards to Tribune Tower East. I went to a networking event at the Tribune Tower last night. It included a tour of the new residences and amenity spaces (unbelievably cool btw). The tour was led by Lee Golub himself. He leads Golub’s US division and Golub is part of the development team for both phases of the Tribune Tower. He was telling a bunch of stories and eventually started talking about the 1422’ Phase 2 Tower. According to him the tower is definitely not happening and they never considered it a serious proposal in the first place. They just wanted something to show as part of the proposal for phase 1. He considered the tower way too tall and grand and that it never made economic sense. Something will happen there someday but it won’t be nearly so tall.
My read on the situation is that some people within the architectural/development team definitely hoped to build a 1422’ tower and Lee was very much not in that group. And now that they’re saying the proposal is dead, he’s saying that it was never a real proposal in the first place to save face. Could be wrong. Either way, I think we can consider this proposal dead for now."
This was such a good proposal too. And excellent height. Such a disappointment.
And what was the point of getting approval for it then?
I don’t buy his excuse for a second. There’s no way this was “never a real proposal”. Those approvals were not easy to get, at all…
Quote:
a2Z40000002oXdaEAE
Location:
Chicago IL
Trade:
General Contractor
Est. Construction Start:
February - 2024
Est. Construction End:
September - 2027
Description:
Fully-entitled development site adjacent to existing Tribune Tower Residences. Entitlement allows for approximately 1.3M square feet and a height of 1442 feet. The site is allowed up to 564 units (125 condos/439 rentals) 250 hotel keys and 426 parking spaces.