Golub's plan for Streeterville skyscraper 'very close,' says Ald. Brendan Reilly - Jean Pierre Bansard Commercial Real Estate Development Firm.
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Golub’s plan for Streeterville skyscraper ‘very close,’ says Ald. Brendan Reilly

Golub’s plan for Streeterville skyscraper ‘very close,’ says Ald. Brendan Reilly


The Chicago developer that wants to build a supertall skyscraper next to Tribune Tower is nearing an agreement with the city for the project, according to downtown Ald. Brendan Reilly.

But another developer with plans for two big towers on the former Chicago Spire site has scrapped that proposal and gone back to the drawing board, Reilly said.

Since unveiling their proposals for the projects last year, Golub, the developer of the Tribune Tower property, and Related Midwest, the developer of the Chicago Spire parcel, have been revising their plans to gain the approval of city officials, including Reilly. Chicago-based Golub and its partner CIM Group have “made a lot of progress” addressing concerns about the development’s impact on traffic, the alderman said in a recent video interview with Chicago Sun-Times reporter Fran Spielman.

“We’re very close,” said Reilly, 42nd. “I think we can get a deal done here in the next couple months, hopefully.”

Golub and Los Angeles-based CIM have already begun redeveloping Tribune Tower on North Michigan Avenue into condominiums. But they are seeking the city’s blessing for skyscraper on a parking lot just east of the building. In April 2018, the developers presented a proposal for a condo-and-hotel tower there that would rise 1,422 feet, making it the second-tallest building in the city after Willis Tower.

To minimize its impact on traffic, Golub and CIM have added a “cut-through” at the base of the tower so cars arriving on upper Illinois Street can load and unload under the building, Reilly said. Delivery and other vehicles will load and unload on lower Illinois Street, he said.

A Golub representative was not immediately available for comment. The developers need the City Council to approve a zoning change for the project, but under the longtime Chicago custom of aldermanic privilege, Reilly has the power to reject development proposals before they are introduced to the council.

That’s exactly what he did with Related Midwest’s plan for the Spire site, at 400 N. Lake Shore Drive. In May 2018, the developer proposed a project there with two towers, one rising 1,100 feet, the other 850 feet. But last October, Reilly said he wouldn’t support the proposal without major revisions. He nixed plans for a hotel in one of the buildings and told Related Midwest to reduce the size of a podium on which the towers sit, among other changes.

Related Midwest recently asked the Chicago Department of Planning & Development to stop reviewing its plans so it could “make some adjustments,” Reilly told Spielman. He said he didn’t know what changes the developer is considering.

“We probably won’t be engaging with Related Midwest for another couple of months, until they come back with a new set of plans,” Reilly said.

A Related Midwest spokeswoman declined to comment.

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