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CHICAGO APPROVES 795-UNIT TOWERS AT CENTRAL STATION

CHICAGO — A change in height for two luxury residential towers in the Museum Park neighborhood of Central Station in Chicago has been approved by the planning commission.

The first tower, Grant Park 3, will be a 73-story building. Permission was granted to raise the height from 620 to 790 feet. The second tower, Grant Park 4, will be an 83-story building. Permission was granted to raise its height from 750 to 900 feet.

Central Station LLC, the joint venture of The Fogelson Companies and Forest City Enterprises, is developing project.

Demand and an effort to strive for a sleek design contributed to the increase in height.

“We are moving forward because our closings and traffic demonstrate there is still a strong demand for quality lakefront developments of this caliber,” said Gerald Fogelson of The Fogelson Companies.

Approximately $420 million sales have closed or are projected to close in 2008 at Museum Park, a co-development of Central Station LLC and The Enterprise Companies.

The towers will feature one-, two-, and three/four-bedroom units as well as penthouses. Chicago-based architectural firm, Papageorge Haymes LLC, designed both buildings. They will be located at the corner of East Roosevelt Road and South Indiana Avenue and the corner of Roosevelt Road and South Michigan Avenue, respectively.

Construction on Grant Park 3 is scheduled for completion end of 2009 or beginning of 2010.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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