An ambitious plan for three residential high-rises near Lake Michigan, including one that would soar 80 stories, has been shot down by the city’s downtown alderman.
Chicago-based Magellan Development Group and its development partner, Australia’s Lendlease, now must make significant changes to the design to resuscitate plans for the three towers, which would house a combined 1,400 condominiums and apartments.
In an email sent Wednesday to constituents, 42nd Ward Ald. Brendan Reilly wrote that “the project is rejected and will not move forward in its current form.”
Reilly’s decision is a big setback, but not necessarily a death knell, for the next phase of Magellan’s...