The big chatter in Streeterville architectural circles over the weekend was the arrival of heavy equipment in the vacant lot at the corner of East Illinois Street and North Park Drive, across from the AMC Theaters. It’s the first indication that work is getting ready to commence on the skyscraper currently known as 465 North Park Drive.
Both Streeterville Spy Joel and Streeterville Spy F. hit our Tip Line with pictures of the machinery in question. Joel caught them sleeping, while F. snapped a picture of actual dirt being moved.
465 was designed by Pappageorge Haymes for UDR and MetLife. You know MetLife from its insurance commercials featuring Snoopy. UDR (formerly United Dominion Realty) is a new player in this market. It’s a company out of Denver that builds and invests in apartment buildings in eight markets, mainly on the east and west coasts.
The plan is for the new tower to reach 535 feet tall, with 444 residences across 47 stories. A foundation permit was issued for this location back in 2008. The only current permit is to run electrical service to the lot so that temporary construction offices can be hooked up. But look for a lot more paperwork soon.
Disclosure: The author of this article, who is also the owner of this publication, was briefly an employee of UDR years ago, and a former UDR resident.