At One River Place (619 West Chicago Avenue), there is a statue of the Spirit of Progress, with her torch hefted high, lighting the way for the caduceus of commerce. When completed in 1928, she stood atop the soaring tower of the Montgomery Ward Building on Michigan Avenue (now 6 North Michigan). She was later relocated to her current perch as the Ward empire expanded and required more floor space.
Strangely, Progress is pointing vaguely northwest — toward Milwaukee. She should be pointed southwest, toward the Fulton Market District, which continues to boom with new office, residential, and retail spaces.
A new one recently popped up on our radar: 1201 West Lake Street. Currently, this is a two-story retail and commercial building; but there are bigger plans for this space. Much bigger.
McCaffery Interests wants to build an almost 150,000 square foot office building at this location on the corner of Lake and Racine. This is the first time in a long time we’ve seen a proposal for this neck of the hoods that didn’t have a Sterling Bay brand seared into its butt.
Here’s the firehose:
- Developer: McCaffery Lake Street LLC
- For realsies: McCaffery Interests
- Current zoning: C1-2 Neighborhood Commercial District
- Requested zoning: DX-5 Downtown Mixed-Use
- Floors: 7
- Maximum height: 104 feet
- Roof height: 101 feet, 4 inches
- Floor area ratio: 5.0
- Retail space: 11,667 square feet
- Office space: 135,083 square feet
- Auto parking spaces: 50