Developers of the site of the once promising Chicago Spire have a new ambitious project in the works with the release of a conceptual tower bringing the new and imagined possibility of a mixed-use property to North Water Street. Named the Gateway Tower, the project aims to retain the 2,000-foot height that was once promised with the original idea.
The Chicago Spire project began in 2005 with the hope of developing luxury condominiums and selling them for some of the highest prices ever listed per square foot in the City of Chicago. While the 150-story project offered impressive presales for its 1,194 units, including the addition of a two-level penthouse under contract, construction ceased in 2008, leaving the more than two-acre property empty for several years other than the addition of a landscaped berm to hide evidence of the previously failed construction plan.
The new project is the design of the architectural firm Gensler, including structural X-bracing designed in an inverted wishbone shape and offering access at nearby DuSable Park. The concept also includes 180-degree views of the lake and the city reaching up to the tower’s mid-section.