It’s been a little over a decade since the address known as 130 North Franklin was turned into a surface parking lot. Now it looks like that scar on Chicago’s urban landscape is going to finally be healed.
Just about two years ago, Tishman Speyer started promoting its plans for the off-Wacker property — a 48-story faceted blue glass tower by River North’s own Krueck and Sexton. It even put together a super-cool video, with a funky soundtrack which your boss has to let you listen to at full volume at work, because it’s research, right?
Since then… crickets. Until today, when 42nd Ward Alderman Brendan Reilly filed a single piece of paper with the City Clerk’s office saying in effect, “Hey, wouldn’t it be great if the city erased that old parking lot and let someone build a big shiny skyscraper here? Let’s do that!”
Thus the paperwork katamari has started rolling toward meetings, paperclips, motions, seconds, drilling machines, tower cranes, window panes, and eventually leather chairs and paper Starbucks cups. Behold the circle of life.
It’s still early days on the project, but we expect detailed information to emerge soon. Until then, here is the best intelligence a box of See’s Candies can buy:
- Developer: Tishman Speyer
- Architecture firm: Krueck and Sexton
- Floors: 48
- Office space: 1,108,929 square feet
- Parking spaces: 200*
- Retail space: 16,000 square feet
- Construction time: 2-2.5 years
* We actually think the 200-space figure for the parking garage is vastly over-inflated due to the current political climate, CDOT’s goals for The Loop, and certain very expensive obligations the City of Chicago has to certain private parking interests.