Proposed 60-Story Tower in River North Requires Demolition of Vintage 19th Century Italianate Buildings

Posted by Helaine Cohen on Monday, March 6th, 2017 at 12:56pm.

According to a recent report from Curbed, a New York-based developer is hoping to build a new 725-foot tower right in the heart of River North, which is an ambitious new plan that would also require demolishing a number of 19th century Italianate buildings at the development site, 42 E. Superior. 

If approved, Symmetry Property Development would be building a 60-story tower at 42-48 E. Superior that could include up to 216 hotel rooms, 120 hotel timeshare units, 246 condo residences, 30,000 square feet of retail space, and parking for up to 325 vehicles. 

As of now, one major concern about the project, outside of the demolition of the two vintage buildings, relates to the growing number of parking garage podiums that are undeniably starting to define much of the River North streetscape. But with design specifics still unclear outside of an initial rendering that fails to disclose street level appearance, the development could still feature parking that is concealed behind useable street-level frontage. 

Back in 2015, the same developer also planned a 36-story hotel-residential combo tower for the exact same building site, only to have the project never come to fruition. Now, just under two years later, Symmetry Property Development is back with an even bigger idea, which is also raising concerns about traffic in this part of River North as well. 

As noted by Curbed, the River North Residents Association will be holding a meeting next week to discuss the possible new project, where representatives from Symmetry Property Development are expected be on-hand to answer questions. 

Helaine Cohen, Chicago Real Estate Broker

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