Chicago Journal: December 07, 2005

1000 S. Michigan project gets new life
Three-high-rise effort apparently sold to

By Haydn Bush

South Loop
The oft-delayed 1000 S. Michigan project has apparently been sold to Renaissant Development, and construction on the first of three high-rises could start early next year, Grant Park Advisory Council President Bob O’Neill said Tuesday. The property had been owned by Guy Gardner, who has faced foreclosure for loans related to the project since last year. Gardner was recently sued for breach of contract after attempting to gain further financing for the deal.

Warren Barr, president of the Oak Brook-based Renaissant Development, was not available for comment this week, but O’Neill indicated that he had spoken with Barr recently, and said the company plans to begin construction shortly. O’Neill has long advocated for more residential development in and around Grant Park, and said the 40-story building would help frame Grant Park and replaces an "unattractive" surface parking lot.

"We’re trying to encourage that ... the buildings that go south of Congress complete the frame and respect the historical wall," O’Neill said.

The building project Gardner developed and gained approval for last year from the Chicago Plan Commission includes permanent lake views facing Grant Park. It would begin with the 40-story East Tower, with units ranging in size from 980-square-foot, one-bedroom residences to 4,000-square-foot penthouses. The second and third phases would include two 32-story towers on the west side of the property, currently a surface parking lot.

Residents at 910 S. Michigan, the building directly next to the 1000 S. Michigan project, had initially opposed the project, in part because Gardner’s initial plan would have constructed one of the buildings smack on the property line that separates the buildings. They were also concerned that much of their southern light would be eliminated by the building. But Gardner agreed to add 12 feet of space between the two properties shortly before a Plan Commission hearing in August 2004, where he received little opposition. After that, though, the project faltered.

When informed of Barr’s apparent plans to buy the building, Eve Noonan, a resident of 910 S. Michigan, said she was still holding out hope that Barr could be convinced to entertain a bolder design for the property than the current drawings.

"We’re still hoping for pizzazz rather than routine," Noonan said.

Nevertheless, Noonan said she was looking forward to working with Barr, who has constructed or proposed several other South Loop buildings and who Noonan said has a good reputation for working with neighbors.

"We’re glad it’s a first-rate company," Noonan said. "That will be a change."