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Development Watch: New Prospects for Riverfront Site

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Delivered with the usual expeditiousness, Crain's got a scoop on the future of a development site at 400 W Randolph. The half-acre parcel is expected to change hands next month, when former John Buck exec John O'Donnell completes a purchase from developer Michael Reschke. The original intent for the site was a pair of residential towers, but then Reschke switched to an office pitch, which didn't gain the necessary traction either. Crain's sources say the next plan will be office-based, with O'Donnell actively recruiting anchor tenants. The zoning, as is, would permit over 600,000 sf of office space, but if O'Donnell were to acquire the adjacent city-owned plot and air rights to the train tracks, bigger dreams could take hold. [Crain's]