Chicago Tribune Riverfront Gets New Development Plan
Seven acres of Chicago Tribune-owned riverfront land finally has a new development plan after many rumors. Tribune Media and Riverside Investment & Development have officially filed zoning paperwork with the City of Chicago, according to documents filed this week.
The plans filed are calling for four new towers just south of Goose Island at 700 W. Chicago Avenue. The total investment comes in at a pricey $600 million to redevelop the existing area into two office towers, a loft-style office with outdoor terraces and eventually a residential high-rise featuring around 300 units.
The four buildings would be connected on a sort of open-campus style area with a central plaza where cars can come up and drop-off and another designated area for food truck parking, perfect for all of those offices.
In addition to the residential/commercial space, the plans indicate that about 4.5 acres of the project would allow for publicly accessible open space and a riverwalk area with boat launches as well as a water taxi stop.
If all goes accordingly and City Council approves plans, tenants could be ready to move into the building by the middle of 2019.