An ambitious re-development of the Tribune building is in the works, according to the Chicago Tribune. Developers have proposed a 96-story building on the Tribune site. At 1,422 feet tall, the building will be Chicago’s second-tallest skyscraper. The Trump Tower currently holds that distinction.
The new tower will be only 29 feet shorter than the Willis Tower, Chicago’s current height-champ.
The project would feature 700 luxury condos. The new condos will be among the most expensive in Chicago. They will compete directly with the under-construction Vista Tower (1,191 feet tall). Critics wonder if the Chicago market can support multiple, high-end developments.
The development will also feature more than 200 five-star hotel rooms. The hotelier has not yet been identified.
The project is currently called the Tribune Tower. The name will change once the Tribune newspaper moves to a different location. The current building - first built in 1925 - will undergo significant renovations. The adjoining 96-story tower will be built on a parking lot.
The Tribune Tower will cost at least $1 billion.