After more than 18 months of negotiations with Ald. Brendan Reilly (42nd), representatives from O'Donnell Investment Company were on hand to unveil an ambitious proposal for one of the most prominent sites in the city. Designed by Goettsch Partners, a 1.2 million-square foot office tower, known as 150 North Riverside, will rise to a height of 700 feet (53 stories) along the river. Its boxy design borrows heavily from 155 North Wacker, also by Goettsch, but distinguishes itself with a dramatic cantilever over a slender, cinched-in base, which occupies only a half acre of the site. The building's minimally-reflective curtail wall is covered with small fin-like elements arranged in wave-like pattern to add depth and definition to the facade. Amenities will be located at river level and include a white tablecloth restaurant, 6,500-square foot fitness center, 2,000-square foot lounge, and a conference room. The LEED Silver-certified tower will also be capped off with a "100 percent" green roof.
Seventy-five percent of the site, or 1.5 acres, is devoted entirely to green- space. A large plaza is planned, along with an elevated park, a landscaped amphitheater overlooking the river, and a block-long stretch of new riverwalk that will connect to Randolph and Lake streets. Already well-served by transit, the building is being promoted as a transit-oriented development (TOD). As a result, the parking component has been reduced to just 81 spaces located below grade. When pressed about the financial viability of the project, a rep. from O'Donnell responded that with its technological capabilities, design, and high-end amenities, 150 N. Riverside will belong to a class of elite office towers for which the vacancy rate is around 3 percent, well below the general office vacancy rate of 13-14 percent. O'Donnell is actively pursing anchor tenants, with construction expected to kick off as early as mid-2014. The final price tag: $450M--and no TIF funds will be available to the developer.
·150 North Riverside Drawings Emerge Ahead of Public Meeting [Curbed Chicago]
·150 North Riverside [Official site]