The under-construction One Bennett Park skyscraper in Streeterville hit an important milestone this month by topping out at 836 feet, becoming the tallest all-residential building in Chicago. It’s an encouraging sign that ambitious projects proposed during this development cycle are well on their way to completion. According to developer Related Midwest, the new 70-story tower is the tallest constructed in Chicago since 2009—and there are taller towers still on the way.
Unveiled in July 2014, the tower proposal from Related and partner LendLease immediately garnered attention for its height and the design team behind the project. Prominent New York firm Robert A.M. Stern Architects was announced as the lead architect and Michael Van Valkenburgh—the landscape designer behind Maggie Daley Park and the 606—was selected to shape the new park at the tower’s base. Chicago’s GREC Architects is serving as the architect of record, a role which helps coordinate all teams involved in design and construction.
Related Midwest president Curt Bailey and David Ervin of GREC Architects highlight Chicago’s role in modern architecture and engineering and how the new One Bennett Park will contribute to the city’s legacy by becoming the first—and perhaps only—Chicago skyscraper designed by Stern, an architect who gained prominence during the postmodernist movement.
“If you appreciate architecture and design, this is where you’re going to want to live,” says Bailey. “In the end, we’re in the business of developing legacy buildings.”
That notion was reiterated by Ervin: “From our standpoint, a legacy building is one that stands the test of time,” he says.
Featuring a mix of both rental apartments and for-sale condominiums, the tower is described by Related as an “ultra-luxury” property, and prices reflect this. Current listings on the market range from $3.25 million for a 3,000-square-foot, three-bedroom unit, to $6.2 million for a 5,100-square-foot, four-bedroom condo. Bailey notes that the tower’s 69 condominiums, which feature larger-than-average floor plans, were designed with families in mind.
Bailey says that the tower’s rental units will be completed by the end of this year while condos and the 1.7-acre Bennett Park will be delivered at some point in early to mid 2019. Related declined to offer current sales figures.
Related Midwest has become one of Chicago’s busiest developers with some of the most prominent sites including a sprawling 62-acre property in the South Loop and the failed Chicago Spire in Streeterville.
But where does One Bennett Park fit in the developer’s lineup?
“This is our signature development and will be for the foreseeable future,” Bailey says. “It’s a building that will mark the eastern edge of the Chicago skyline in perpetuity.”
3 days ago