JDL Development has unveiled plans for the parking lot it purchased across from Holy Name Cathedral in River North. And the building it’s planning? It’s big.
The residential tower JDL plans to build — One Chicago Square — could bring more than 900 luxury apartments and condominiums in two towers to Chicago’s River North neighborhood. At the base of these towers would be nine stories of retail. The tallest of the two towers would stretch 76 stories into the sky.
If these plans become reality, the building would rise 1,011 feet and would rank as Chicago’s sixth-tallest building. It would also join two other Chicago skyscrapers now under construction that, together, will dramatically alter the city’s famed skyline.
JDL has long been working on its Holy Name project in River North, of course. But it wasn’t until Oct. 11 that the company submitted its zoning application and not until Oct. 24 that the company revealed its actual plans for One Chicago Square during a public meeting.
The project’s pair of towers would replace the Holy Name Cathedral parking lot at the intersection of State and Superior streets in Chicago, located just steps from the iconic Water Tower Place . Only one of the towers will rank among the city’s 10 tallest skyscrapers — the 76-story one — but the shorter of the two towers would still be impressive. It is planned to rise 45 stories in the air.
During the public meeting in late October when it unveiled its plans, JDL Development said that the project would cost $740 million to build and would generate about 1,000 construction jobs and more than 400 permanent jobs.
JDL’s zoning application says that One Chicago Square will consist of 914 residential units, 200,000 square feet of retail space and 45,000 square feet of office. JDL says that the project would contribute about $8 million in real estate taxes while bringing in about $1.2 million in revenue to the surrounding neighborhood.
Of course, the plans for the skyscraper are not yet approved. The Chicago Planning Commission must first give its approval. The project also needs to earn approval from the city’s zoning committee and, of course, the Chicago City Council. If this all happens, though, JDL does plan to begin construction in the fall of 2018.
What’s most interesting about the proposal is that JDL’s project isn’t the only one set to make a major impact on Chicago’s skyline. As the Chicago Tribune recently reported, two other tall buildings are already under construction in the city, the Vista Tower condominium and hotel development, being built at Wacker Drive and the Chicago River, and One Grant Park, which will rise along the southern end of Grant Park.
When completed, Vista Tower will rank as the city’s third-tallest skyscraper, while One Grant Park will be its 10th.
This means, then, that the city will potentially have three new skyscrapers that rank among its 10 tallest. That’s a pretty impressive change to a skyline that is already one of the most dramatic in the country.
