A community meeting has been announced to discuss the start of construction for 400 N Lake Shore Drive in Streeterville. Sitting atop of the former Spire site, the two-tower development has been in the works for many years. Most recently a financing meeting was held and now Alderman Reily is running the logistics meeting. The project is being led by Related Midwest who tapped architecture firm SOM for its design.
Originally proposed with a much taller height and terracotta clad bay windows, the multi-phased development received an overall haircut and simplification of the facade. This came after a lengthy community review process which also led to the removal of its parking podium and hotel component. Once completed it will also connect under the highway to the future DuSable Park which is currently in the design phase.
Construction will commence with the previously announced first phase, rising 73 stories tall, its final height is unknown as the SOM website shows 840 feet however the alderman’s site displays 875 feet. Inside will be 635 apartments of which 20 percent or around 127 units will be considered affordable for those making 60 percent AMI. On the ground floor will be a small cafe, dog spa, lobby, and a ramp to the underground parking garage.
The 300-vehicle garage will be shared with the second phase as well. This second tower is set to rise 765 feet in height and contain 465 residential units which will most likely be for condos. At the base of the two will be a large green landscaped space and central parking garage ramp, this will also include an extension of the riverwalk leading to DuSable Park.
The financing meeting held recently was to review the issuance of bonds for the project, with nearly $510 million being requested and reviewed by IDHA. The alderman’s coordination meeting will occur on the 17th and was published in a recent newsletter found herec. While foundation permits were applied for last year, a formal commencement date has yet to be announced.