The amazing plans are ambitious and seem unreasonably optimistic to us. Just take a look at the numbers:
The 120-story tower is the centerpiece of a $3.5-billion, 16-million-square-foot development proposed by Bill Davies, the Englishman whoSimply amazing to think something like this is even being proposed right now. Although it seems highly unlikely that this could happen, it would be a game changer. This complex would drastically change the dynamic of the city shifting much more attention and development to the Southwest area of the Loop.
paid $24 million two years ago for the post office, an empty landmark structure that straddles the Congress Parkway on the west side of the river.
Covering 20 acres, the project would include 6.2 million square feet of retail and entertainment space, 7,500 hotel rooms, 2 million square feet of
office space and 3.8 million square feet of residential space, enough for about
1,500 units. It also is to include 12,000 parking spaces that will be free for
The one thing that could give this a shot in the arm would be a casino. There has been a lot of talk about where a casino should go and if this complex could house it, our guess is that it would help make this more realistic. Regardless, it doesn't seem very feasible and we would be amazed to see it happen.
If it does, it would impact the Sloop in ways we can't even imagine. The amount of people that this type of complex would attract would mean a ton of new people invading the surrounding neighborhoods (which is ours). It could be a good thing or it could be bad thing depending on how you feel about the growth of the neighborhood. Realistically we doubt we will ever know because we can't imagine this project really happening. Only time will tell.
Chicagobusiness.com has a good video summarizing the story:
(Hat tip: Jack G!)