Posts Tagged ‘Riverside Investment & Development Company’

Office Tower Planned at CUS

October 30, 2018

A new office tower is being planned for Chicago Union Station along with using some unused areas near the station’s Great Hall.

The office tower will be constructed on Amtrak-owned land south of the depot.

Amtrak officials said money earned from development of the office building will be used for additional station improvements.

This will include reopening upper floors of the station’s headhouse, building a new entrance from Clinton Street, making Americans with Disabilities Act improvements, and opening areas of the station that have been closed to the public for decades.

Riverside Development will build the new office tower, which will have 1.5 million square feet and stand 50 stories high.

A 1.5-acre public park will be developed on the site of a parking garage that the developer plans to buy from Amtrak.

Master Developer Chosen for CUS Project

May 26, 2017

Amtrak said it has chosen Riverside Investment & Development Company to be the master developer for a planned project at commercial expansion of Chicago Union Station nearby properties that Amtrak owns.

In a news release, Amtrak said that the initial conceptual design proposed by Riverside, in conjunction with co-developer and co-venture partner Convexity Properties, will include three phases that are to be completed in about six years.

This will include improved street entrances and pedestrian traffic flow entering and leaving Union Station, as well as improved pedestrian-friendly landscaping and open spaces.

Key components of the first phase of the project, which will involve 3.1 million square feet in the station’s headhouse and concourse, include:

  • 110,000 square feet of new and reconfigured retail with a new food hall
  • Street level retail to be added to enhance the pedestrian experience
  • Renovation of the headhouse and Great Hall
  • 100,000 square feet of office space and a new proposed hotel above the Great Hall
  • Two new 12-story residential towers above the headhouse

The second phase will involve construction of two new office towers along with retail and parking. This includes:

  • Two new 750,000 square foot office towers with ground floor retail and approximately 800 parking spaces
  • Ample publicly-accessible green spaces including terraces and plazas, including above the current Union Station Transit Center.

The final phase of the project will involve a plaza and tower on southeast corner of Jackson and Canal that will have 500,000 square foot retail and a residential tower developed over active rail lines with open space and plazas at street level

Amtrak said the development of Union Station was made possible through the City of Chicago’s agreement to modernize and transform the transportation infrastructure though the Amtrak Chicago Union Station Master Plan.

The project will not require any federal, state or local funding and is subject to further revision and consideration by the City of Chicago Plan Commission, Landmark Commission, Zoning Committee and City Council.

“This building was envisioned by Daniel Burnham in the 1909 Plan for Chicago as the city’s primary rail station. It is in that spirit, we have big plans for both this Headhouse building and nearby properties owned by Amtrak,” said Amtrak President Charles “Wick” Moorman in a statement. “We have initiated real estate developments such as this to create revenue streams to invest in our core business, to improve facilities, to provide amenities to all users of the station – and to attract new ones. We are certain we will do that here in Chicago.”