As one of the key figures responsible for transforming River North from an industrial no man's land into a thriving residential neighborhood, developer Albert Friedman is looking to repeat his past success with a 377-foot glass and metal hotel tower proposed for 322 N Clark.
Slated to replace a rug store and a relatively small parking lot, the HKS Architects-designed tower will expand northward as it rises. The development is sure to offer river views as it looms well above the brick seven-story 1914 Reid Murdoch Center, also owned by Friedman. Plans show that the two buildings will be internally connected via a new office lobby and elevator bank.
According to paperwork filed with the City of Chicago, the mixed-use project will feature roughly 500 hotel rooms and new retail space fronting Clark Street. The plan also appears to include a hotel drop-off area that will bridge Clark and LaSalle by way of a new vehicular connection to be built above the existing Carroll Avenue right-of-way.
Despite concerns over a full pipeline of new hotel projects leading to an oversupply of rooms amidst potentially cooling demand, Chicago’s lodging segment continues to look strong for the time being. Friedman’s previous hotel ventures in the area include a three-brand joint development at Clark and Grand and proposed hotel tower at Rush and Superior that ultimately failed to win the approval of 42nd Ward Alderman Brendan Reilly in 2014.