New Highrise in Chicago's Gold Coast ?

Posted by Ted Guarnero admin on Thursday, July 14th, 2011 at 12:34pm.

A New High-Rise in the Gold Coast?

Gold Coast highrise may soon be at Division and ClarkRecent reports have surfaced that the Jewel-Osco chain is taking bids to build a brand new high-rise condominium building in place of its 1210 N. Clark store location. The plans could call for as many as 40-stories and Jewel would then re-open its doors within the new structure. While many of the details outlining this new Gold Coast development remain unknown, Alderman Brendan Reilly seems to be taking a firm stance against construction of a high-rise with maximum height potential and has been quoted saying such plans would be ”irresponsible.” His ideal development plan for this particular location is to construct a project that is a “good fit within the context of the neighborhood,” as he puts it. Maybe it’s me but am I the only one who’s just a little confused? I guess I need somebody to explain to me how a new high-rise development at 1210 N. Clark Street would contrast with the 20+ story high-rise positioned directly behind the Clark and Division Jewel at 1255 N. Clark Street or the Gallery 1250 high-rise condominium building at 1250 N. LaSalle Street, located just west of the Jewel-Osco. These Gold Coast residential buildings are just two examples of high-rise residential developments on the same block, let alone the surrounding area. I’m not even mentioning what happens to be only one or two blocks away in any direction. Now, to be fair, I do understand that the proposed construction does call for a taller, and likely wider, structure. But let’s just call it what it is--a high-rise condo building is a high-rise condo building; and though there is no universal definition as to the requirements of a high-rise, generally speaking most building engineers and inspectors define anything over 75 feet to be a high-rise. My point, you ask? If it’s in the same height class (high-rise) as surrounding buildings, there’s no doubt it’s within the context of the neighborhood. Maybe I’m in the minority here, but I gladly welcome all new residential property in Chicago, large OR small. Aside from adding a new and exciting appeal to neighborhoods or Chicago city-blocks in need of a “pick-me-up,” it is, afterall, how I choose to make a living. So bring on the new high-rise at Clark and Division. Magellan, John Buck Company, and Fifield have been mentioned as being the key players involved in this new Gold Coast project. See all Gold Coast real estate here

Ted Guarnero, REALTOR® is a full-time real estate agent with over 1000 homes sold and $400 million in sales.  Working with Compass real estate offering professional and effective real estate services to help you succeed in the local real estate market. Visit www.seeChicagorealestate.com for information on downtown Chicago real estate and to get in touch with an expert in the Chicago real estate market. Before you hire your next Realtor call Ted Guarnero 855-See-Chicago, it's on the House !

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