Tuesday, February 16, 2021

Proposed Development at 525 S. Wabash Moves Forward to Next Phase of Approval Process

Chicago Architecture has an update on a big development that would provide a shot in the arm and some retail amenities to the northeast corner of the Sloop:

The proposed $350 million mixed-use development at 525 South Wabash Street is headed to the Chicago Plan Commission this week.  If approved, it would bring the South Loop a pair of mid-sized towers, sharing a podium with a supermarket inside. The project is on South Wabash between East Harrison Street and East Ida B. Wells Drive.

Since this project was first conceived in 2019, it’s changed a bit.  The hotel portion is smaller.  The podium has been redesigned.  At one time, it was going to be two tall towers, but now it’s one 36-story tower, and one 23-story tower.  The smaller one gets the hotel  Both will have apartments.

While we understand that businesses and construction will likely continue to push on, it still seems perplexing that there is such demand for these types of developments.  The world is still working through a pandemic which is throwing the concept of a "downtown office" into question.  Maybe we're missing something, but seems like the continued development moves are missing some bigger societal changes happening.  

Maybe we're wrong?

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