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A development firm with long-held intentions to build on a West Loop parking lot has offered a revised plan that calls for construction of more than 1,000 high-rise apartments.
The proposal from Pacific Reach Properties would place two towers of 47 and 40 stories on a roughly half-block site at 601 W. Monroe St., next to Heritage Green Park. The firm has scrapped plans for a hotel in a likely concession to the turmoil in the travel market because of the pandemic.
Ald. Brendan Reilly (42
nd) detailed the latest proposal in an email to constituents. Reilly cited revisions he called “notable improvements,” including reduced building heights and added retail space to encourage active street-level uses. The design includes 430 parking spaces, a slight reduction from an earlier plan.
Canadian developer Pacific Reach Properties wants to build two apartment towers with a combined 1,053 units at 601 W. Monroe St. The towers would be 47 and 40 stories tall.