A new 47-story tower could be coming to Michigan Avenue. Sterling Bay recently announced plans for a mixed-use tower at 300 N. Michigan Avenue. According to local leaders, the proposed project includes plans for 290 residential units topping 280 hotel rooms.
The new tower is planned for the space currently occupied by a four-story building the developer already owns at East Wacker Place and Michigan. While the smaller building is vacant right now, it once housed a Walgreens, RadioShack and Subway.
Sterling Bay is the same Chicago developer currently pushing a massive new project at Lincoln Yards. The developer is close to gaining final city approval for that project. The $6 billion development sits along the Chicago River’s north branch.
It’s also the force behind a number of proposed developments downtown and the past developer of office space in the Fulton Market District and the West Loop.