View Looking East (Sheraton Hotel on right)435 North Park Drive
- 55 stories
- 625' high
- 400 hotel rooms
- 398 residential units
- 230 parking spaces
In February 2012 a application for a change in zoning was filed for this parcel.
Per the notification, "the purpose of the proposed zoning amendment and proposed Chicago Lakefront Protection Ordinance approval is to adjust the bulk zoning regulations relating to parcels 7 and &A of Subarea B of Residential-Business Planned Development No. 368 to allow the construction of a hotel and residential building at the subject property.
This proposal was approved by the City's Plan Commission on May 24, 2012.
Documents
Application for Rezoning Notification (2-7-12)
Plan Commission Hearing Notice (4-3-12)
Alderman on Deferral of Plan Commission Hearing (4-12-12)
Letter to Alderman re. DRW Development (4-21-12)
Plan Commission Testimony (5-24-12)
Note
In 2008 the City approved plans for the Waldorf-Astoria hotel and condominium complex. The plans included a 1,100' high, 107-story structure with 325 hotel rooms, 300 condominiums, and 300 parking spaces.
In January 2010, Donald Wilson, Jr. Founder and CEO of DRW Holdings LLC purchased the Waldorf-Astoria site out of foreclosure from The Fordham Company.
In November 2011 SOAR learned that DRW is now working on plans for a hotel/rental building to be located just north of the Sheraton Hotel.