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300 N. LaSalle Plans Get Green Light

CHICAGO-A zoning change allowing Houston-based Hines Interests LP to build a 1.3-million-sf office tower, 62% more than current zoning allows, is endorsed by the plan commission. Kirkland & Ellis will anchor the $400-million riverfront building when it opens in 2009.

By Mark Ruda | Updated on October 20, 2005

CHICAGO-While the proposed 745-foot height of the building raised some eyebrows, Hines Interests LP’s plan for a 57-story, 1.3-million-sf office tower at 300 N. LaSalle St. got a green light Thursday. The plan commission endorsed the $400-million project, as well as a zoning change that will allow the Houston-based developer to build an office tower 62% larger than allowed under existing zoning.

Hines Interests already has lured Kirkland & Ellis away from the Aon Center to 600,000 sf in its riverfront building once it is completed in 2009. In addition to office space, plans call for 13,000-sf of retail space, which most likely will include a restaurant.

However, Hines Interests’ office tower will dwarf surrounding low- and mid-rise properties sharing the riverfront, notes plan commission member Allison Davis. Taller buildings already line the riverfront a quarter-mile to the east, and Trump International Hotel & Tower will dwarf both Marina City and 330 N. Wabash Ave. Closer to 300 N. LaSalle St., though, is the 3.5-million-sf Merchandise Mart, a mid-rise building, as is the redeveloped Reid-Murdoch building at 325 N. LaSalle St. and Helene Curtis building at 325 N. Wells St.

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