Just when you thought the Chicago skyline would be frozen in its current state for the next decade, in step a group of commercial developers to defy conventional wisdom. Trammell Crow Company and Insite Real Estate, LLC have announced plans to team up on a 34-story office tower at 301 S. Wacker Dr., (pictured at right) right next to the 65-story tower at 311 S. Wacker. A Crain's article (subscribers only) about the proposed building comes accompanied by a handy-dandy map of recently-built and planned office towers in downtown Chicago. Just down the street from 301 S. Wacker, Development Resources, Inc. is planning to build a 31-story building of its own at 401 S. Wacker Dr. (pictured middle), and to the north, the John Buck Co. hopes to build a 30- to 40-story building at 222 W. Randolph St. (pictured at left).
Together, those three buildings would add more than 2.5 million square feet of commercial space to downtown Chicago, and that doesn't even include the 52-story West Loop building Hines Interests has been floating for the past two years. The Crain's story acknowledges that the chances are rather slim that any of these towers get built, because of high vacancy rates and cautious lenders.
· Race is on for next Loop office tower [Crain's]
· Trammell Crow selected as developer for office tower [RE Journals]