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Old Posted Mar 4, 2017, 4:27 AM
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BVictor1 BVictor1 is offline
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Join Date: Sep 2002
Location: Chicago
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March 03, 2017
Developer proposes tallest building in River North in nearly a decade


A New York developer plans a 60-story hotel and condominium tower in River North, the tallest building to be proposed in the neighborhood since the recession.

Symmetry Property Development wants to build the 725-foot high-rise at the northwest corner of Superior Street and Wabash Avenue, according to an email downtown Ald. Brendan Reilly (42nd) sent to constituents. A block west of the Peninsula Hotel, the development would include 216 hotel rooms, 120 timeshare units, 246 condos and about 30,000 square feet of retail space, according to the email.

A Symmetry executive did not respond to an email.

About two years ago, Symmetry floated a plan for a 36-story hotel-condo tower on the property. But it never filed a proposal with the city for the project, which it would have built with Chicago developer Chris Carley, who died last year.

The strong hotel and condo markets are working in Symmetry's favor. The condo plan has "great potential," Gail Lissner, vice president at Appraisal Research Counselors, a Chicago-based consulting firm, wrote in an email.