Owned by L3 Capital, the removal of the former bank structure will clear the way for a five-story mixed-use building. Rising 69 feet, the new project will house a mix of ground-level retail and office space on its upper floors.
The planned edifice is meant to further re-establish the historic street wall that lines the Randolph Street Corridor. Hartshorne Plunkard Architecture is behind the masonry design, with various vertical bays and textured brick spandrel and cornice elements. The exterior will also integrate granite at the base, aluminum mullions along the storefront, and dark metal window accents throughout.
Tenants and visitors will find a multitude of nearby transit options, the closest of which is the CTA L Morgan station, situated a block to the northeast and serviced by the Green and Pink Lines. Also in close proximity are bus options such as Route 20 via a six-minute walk southeast to Madison & Morgan, as well as Route 8 via a six-minute walk east to Halsted & Randolph.
Precision Excavation LLC is the demolition contractor for the site. No additional permits have yet been filed or issued, although a completion date is expected for 2022.