New Mixed-Use Tower Proposed For 151 N. Michigan Avenue Near Millennium Park

Posted by Helaine Cohen on Wednesday, September 2nd, 2015 at 10:47am.

According to a recent report from Crain’s, a new 41-story residential/hotel tower could soon be coming to a prominent location along North Michigan Avenue, just across the street from Millennium Park. Being proposed by Park Ridge-based BJB Partners, the high-rise would occupy a small parcel just south of the Millennium Park Plaza apartment building at Michigan Avenue and Randolph.

As of now, specific details about the project haven’t exactly been made clear, other than the tower would include both a hotel and 74 residential units. Initially, the developer proposed a full fledge rental tower for the building site, which is located at 151 N. Michigan Avenue, but with Millennium Park and the now-completed Maggie Daley Park continuing to draw an abundance of tourist activity, bringing additional hotel rooms to the area seems like a lucrative plan.

As for the residential units at 151 N. Michigan, it has yet to be determined whether they’ll be condos or rentals, but either way, the building’s fabulous downtown location should bring a ton of interest, regardless of which direction they ultimately decide on.

Helaine Cohen, Chicago Real Estate Broker

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