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Developer Plans $100M Condo Tower Off Michigan Avenue

CHICAGO-Enrico Plati will replace five buildings at 148-58 E. Ontario St. with a 51-story, 160-unit condominium building just east of the Magnificent Mile. Restaurants now occupy space in the buildings.

By Mark Ruda | Updated on May 23, 2005

CHICAGO-Enrico Plati plans to build a 51-story, 160-unit condominium building at 150 E. Ontario St., just east of Michigan Avenue. The plan commission recently cleared the table for Plati’s $100-million project, which would replace small buildings occupied by the Bice and O’Neil’s restaurants.

“This is a very, very handsome piece of architecture and is replacing some very drab buildings,” says 42nd Ward Alderman Burton Natarus. Five low-rise buildings now occupy the 12,820-sf development site, which is across the street from a new Marriott hotel.

The restaurants, or other retailers, could occupy space on the first and second floors of Plati’s new building, as well as the basement. Above that will be 11 floors of parking for 184 vehicles. The condominium would begin on the 16th floor with a fitness center and meeting room.

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