WEST LOOP — A proposal would bring more than 1,000 apartments east of the Kennedy Expressway in the West Loop.
Canada-based developer Pacific Reach Properties wants to replace a surface parking lot with two apartment towers at 601 W. Monroe St., Ald. Brendan Reilly (42nd) announced Friday in an email to residents.
Designed by Solomon Cordwell Buenz, the towers would be located next to Heritage Green Park.
The 47-story tower would have 537 apartments, 397 parking spaces and 23,405 square feet of retail space.
The 40-story western tower would add 516 apartments, 6,904 square feet of retail space and another 33 parking spaces, according to Reilly’s newsletter.
The buildings will also include 24-hour front desk staffing, security cameras and additional outdoor lighting.
The heights of the two towers were not disclosed.
With the west tower as the backdrop to the public park, the alderman “encouraged the developer to add over 30,000 square feet of retail near the park along Monroe, Jefferson and Des Plaines streets” to promote pedestrian activity along the perimeter of the project.
The first and second floor of the 40-story building will be reserved for a food and beverage tenant, according to the alderman’s newsletter.
The Monroe Street proposal has changed since initial designs which sought to include a hotel at the site. That was abandoned to bring more family-sized units to the project, the newsletter said.
The project needs approval from the city’s Plan Commission, Committee on Zoning and City Council to move forward.
If approved, the developer will contribute $5,500,000 to the City’s Neighborhood Opportunity Fund in exchange for added density.
Pacific Reach Properties could not be immediately reached for comment.
“I’ll be spending the next few weeks gathering community feedback on the proposal,” Reilly said in a statement. “Based on that feedback, we will review the plans with the Department of Planning and (Chicago Department of Transportation).”
The proposal is the latest high-rise project in the area.
In December, developer Crescent Heights pitched plans to replace the longtime parking lot at 640 W. Washington Blvd. with a 47-story high-rise. The 500-foot tall tower includes 413 apartments, a garage with 137 parking spaces and approximately 8,000 square feet of ground-floor retail space.
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