Hoping for a 50-Story Lakefront Tower?
City consolidates land parcels, Rinka envisions tower, but no development imminent.
The city inched forward a marquee development site near Lake Michigan last week, and Colliers International is marketing the site. but don’t expect a tower to emerge anytime soon.
The Common Council unanimously approved a Certified Survey Map that consolidates three parcels into a single development site. The 2.66-acre site was formed by the reconfiguration of the Lake Interchange on Interstate 794, which included moving ramps and streets as the Hoan Bridge was rebuilt.
The site overlooks Lake Michigan and N. Lincoln Memorial Dr. and is located just south of the proposed The Couture apartment tower and 833 East office building. But until now, it’s legally been three different parcels, 420 N. Van Buren St., 727 E. Clybourn St. and 815 E. Clybourn St. Now it will be unified, simplifying future development.
The 50-story tower, which would be the city’s tallest, includes 5,000 parking spaces at its base and between 28,000 to 32,000 square feet of office space per floor. An elevated greenspace is depicted overlooking the bend in the freeway.
The site is currently owned by the Wisconsin Department of Transportation and listed for sale for $13.9 million. It was previously considered by Johnson Controls, but those plans never advanced. It was also included in a pitch to Amazon as part of the HQ2 process.
More information on Collier’s plans are available on the MKE Gateway website.
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