One Grant Park

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One Grant Park
20170924 One Grant Park.jpg
Construction site in September 2017
General information
Status Under construction
Type Residential
Location 113 East Roosevelt Road
or 1200 South Indiana Avenue
Chicago, IL
Management Crescent Heights
Height
Roof 892 feet (271.9 m)
Technical details
Floor count 76
Design and construction
Architect Rafael Viñoly
Structural engineer Magnusson Klemencic Associates
Main contractor James McHugh Construction Co.
Other information
Number of units 792
Parking 622
References
[1]

One Grant Park (also 1200 South Indiana and formerly 113 East Roosevelt) is a skyscraper and related development under construction for Chicago, Illinois in the Central Station neighborhood, of the Near South Side community area. The skyscraper is planned to have 792 apartments and rise 829 feet (252.7 m). It is designed by Rafael Viñoly as the first of a three phase development that includes an even taller 648-unit structure as the second phase and a 100-unit townhouse development with a public park as the third phase.[2] Financing is a prerequisite to initial groundbreaking.[3]

The development sits adjacent to the southwest corner of Grant Park.[4] Originally, the name 113 East Roosevelt was associated with the whole three phase development and reflects the address on Roosevelt Road (at the corner of Indiana Avenue) of Phase I of the development. To its west Phase II of the development will occur and will be a residential building at Roosevelt Road and Michigan Avenue. Phase III of the development is for townhouses and a public park on Indiana Avenue to the east of the two skyscrapers.[2][3] The designs of the skyscrapers in the development will feature architectural elements that pay homage to Willis Tower.[5] An alternate address for the location is 1200 South Indiana Avenue.[6]

The building will be taller than any all-residential building in the city that had been completed at the time it was proposed and only be surpassed by the planned 451 East Grand as the tallest pure residential building in the city. It will also become taller than any building on the South Side of Chicago, surpassing its neighbor One Museum Park.[3] It will also become the second tallest building in the city south of the Willis Tower (assuming 1000 South Michigan also is completed).[7] Viñoly's prior work included Chicago's Booth School of Business building.[8]

History[edit]

Despite the financial crisis of 2007–08 and the resulting softening market in 2007, Gerald Fogelson, co-chairman and chief executive of Central Station Development Corp., had sought approval for a 73-story Grant Park Tower III at the 113 East Roosevelt location in 2008.[9][10] An 83-story Grant Park Tower IV at Michigan and Roosevelt was also planned to begin preconstruction sales in 2009.[9] Miami developer Crescent Heights acquired the real estate for the development in 2012 for $29.5 million.[3] The development was presented in a community meeting on September 22, 2015.[2] The Chicago Plan Commission approved the development on November 19, 2015 in a meeting that also resulted in the approval of the Wanda Vista tower.[8] The building will be located on a 1-acre (4,047 m2) site.[3] On January 4, 2017, the name of the building was changed to One Grant Park as a 203 million financing loan was announced for the 792-unit, 829-foot, 76-story, luxury residential building.[6][11]

See also[edit]

References[edit]

  1. ^ "One Grant Park". Skyscraper Center. CTBUH. Retrieved 2017-08-11. 
  2. ^ a b c "Pair of residential towers proposed for East Roosevelt in South Loop". Chicago Business Journal. September 23, 2015. Retrieved November 20, 2015. 
  3. ^ a b c d e Gallun, Alby (September 23, 2015). "76-story apartment tower proposed in South Loop". Crain's Chicago Business. Retrieved November 20, 2015. 
  4. ^ Kamin, Blair (October 30, 2015). "Proposed South Michigan Avenue towers appealing, but need to strike balance". Chicago Tribune. Retrieved November 20, 2015. 
  5. ^ Matthews, David (September 22, 2015). "'Iconic' Proposal Calls For Twin Towers, One 76 Stories Tall, In South Loop". DNAinfo.com. Archived from the original on November 20, 2015. Retrieved November 22, 2015. 
  6. ^ a b Ory, Ryan (January 4, 2017). "Grant Park apartment tower gets $203 million construction loan". Crain's Chicago Business. Retrieved January 6, 2017. 
  7. ^ Matthews, David (November 19, 2015). "Chicago 'Thinking Big' As 3 Ambitious Developments Clear Key Hurdle". DNAinfo.com. Archived from the original on November 22, 2015. Retrieved November 22, 2015. 
  8. ^ a b Kamin, Blair (November 19, 2015). "Chicago Plan Commission approves tower that would be city's 3rd tallest". Chicago Tribune. Retrieved November 20, 2015. 
  9. ^ a b Diesenhouse, Susan (September 17, 2007). "Central Station developer not deterred by soft sales climate". Chicago Tribune. Retrieved December 10, 2015. 
  10. ^ "Grant Park Tower III". Emporis. Retrieved December 10, 2015. 
  11. ^ "One Grant Park, Future Tallest Skyscraper South of Willis Tower, Underway". DNAinfo Chicago. DNAinfo Chicago. Archived from the original on January 5, 2017. Retrieved January 5, 2017. 

External links[edit]