New Look For North Michigan Avenue

A 71-story hotel and condominium project would change the look of the south end of the magnificent mile. The new structure that would replace the north tower of the Intercontinental Chicago hotel would not affect the architectural feature of the 42-story Art Deco south tower.

Built in 1961 the north tower has 26-story and is famous for its blank concrete exterior. The Strategic Hotel Capital Inc. acquired the hotel, and the construction would start by mid-2007 depending on the sales of the high priced condo units. The proposed skyscraper would add sophistication to the historic building without disturbing the old charm. The new tower is sure to raise some questions about the building boom on the North Michigan Avenue by the preservationist and the Streeterville neighbors.

But Strategic Hotel Capital Inc. is known for its redevelopment plan of the already performing property to maximize its value. The new tower will have 310 condos, 150 hotel suites, 11,000 square feet retail space in the first floor and parking facility.