Although Keith Giles' X/O condo project never made it off the ground, the developer is returning to the South Loop to plant a new apartment tower on a surface parking lot at 1136-40 S. Wabash Ave. The city has recently announced an agreement with Giles to sell the property for $4.4 million, which will then be used to build a new 24 story tower designed by Solomon, Cordwell and Buenz (SCB). The plan includes 280 apartments, 84 parking spaces and about 10,000 square feet of ground level retail space.
The new $64 million tower will join two tower project from CMK, which stand just across the street. Back in 2009, the surface lot at 1136 S. Wabash had been the focus of a project to build a tower for student housing. A scuffled with Alderman Bob Fioretti ensued, who at the time, vowed to block the deal and the lot continued to sit vacant for the following five years. ·Land Sale Would Support New South Loop High-Rise Apartment Project [City of Chicago]
·Previous South Loop coverage [Curbed Chicago]