A long-rumored project from architect-developer Thomas Roszak and business partner Dan Moceri to replace a Loop parking garage near Millennium Park with a glassy residential tower is preparing to move forward.
Known by its address of 50 E. Randolph Street, the 25-story proposal will feature a retail base topped by 70 parking spaces, 190 rental units, and 24 condominiums, according to an email from the office of 42nd Ward Alderman Brendan Reilly.
At 293 feet tall, the project is shorter than most of its neighbors and nearly 150 feet lower than what the current zoning allows. Although the proposed building won’t require an outright zoning change, the project will need the approval of Alderman Reilly and the Chicago Plan Commission under the city’s Lakefront Protection Ordinance.
If approved, it’s unclear when construction will begin. The site’s existing garage will need to be closed and demolished before the new tower can rise. Roszak and Moceri—the same team behind the Linea apartments at 215 W. Lake Street and an upcoming 20-story office development at 145 S. Wells—could not be reached for comment.
The proposed tower at 50 E. Randolph isn’t the only new development in the works for the area surrounding Millennium Park. Nearby plans include a 47-story combination hotel and residential tower at 300 N. Michigan Avenue and a seven-story apartment project at 171 N. Wabash Avenue. A new apartment tower is also rumored for the vacant lot at Lake Street and Stetson Avenue, although an official plan has yet to be publicly unveiled.