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The 50-story multi-use building at 435 North Park Drive will include a 400-room Loews Hotel, 398 rental apartments and 232 parking spaces.
Construction began in November of 2012, and completion is slated for 2014.
DRW Holdings is the developer and Solomon Cordwell Buenz the architecture firm.
The building will make a strong statement in the area due to its height of over 600 feet, its large footprint at ground level, and the relative openness of its surroundings.
The apartments
There are 34 stories of rental apartments above the hotel. The mix includes studio, convertible, one-, two-, and three-bedroom apartments.
A preliminary rendering of a typical floor plate shows corner 2-bedrooms with balconies, making 435 the only new building in Streeterville to offer this feature.
Details of apartment finishes have yet to be made public.
Views. The residential tower is sited on a north / south axis to maximize views of Lake Michigan, the Chicago River and Ogden Slip to the east. The views to the east will remain unobstructed until the Chicago Spire site is developed, at which point they’ll take a hit.
Views to the west are optimized by the tower’s location at the eastern edge of the site and by Ogden Plaza Park, an open space to the west.
Residential units begin on the 19th floor. 435 North Park will tower above many of its neighbors, providing spectacular views from many of the units.
Amenities, services, policies
The hotel includes ballrooms, meeting spaces, restaurants and multiple roof terraces with outdoor bars and cafés. Residents will have access to hotel facilities and services – room service, housekeeping, catering – and will share a 16th-floor amenities level with hotel guests. The 16th floor has a fitness center with an aerobics room, indoor and outdoor pools, a “kids’ club” and a sundeck.
Residents-only amenities on the 17th and 52nd floors include a party room and lounge, game room and business center, and rooftop terrace.
The location
435 North Park is in the southern part of Streeterville, a half block from the Chicago River, midway between Michigan Avenue and Navy Pier.
Walk Score gives the location a “Walker’s Paradise” score of 98 and a very questionable “Rider’s Paradise” transit score of 100.
Shopping. A Dominick’s grocery is a block north of the building. Treasure Island, which bills itself as “America’s most European supermarket,” is a few blocks northeast. The troubled Fox & Obel, is a block north and a block east.
A Walgreen’s Pharmacy is a block north of 435.
Michigan Avenue’s Magnificent Mile shops begin 4 blocks northwest of the building.
Dining, nightlife, entertainment.
There are literally 100s of dining and nightlife options within blocks of 435 North Park.
If you’re a bowling or movie buff, just a block north and east you can hit the lanes at Lucky Strike then head downstairs to catch a movie at AMC River East.
Parks, recreation. The building has good park access, beginning with the best proximity of any of the new Streeterville buildings to Millennium Park and the new Maggie Daley Park, which are a half-mile south.
435 North Park is four blocks from Navy Pier, Jane Addams Memorial Park, Ohio Street Beach and the Lakefront Trail. River Esplanade Park, home to Centennial Fountain, is a short block south of the building.
Lake Shore Park, which has a running track, softball fields, tennis courts, a playground and a small field house, is a half-mile north.
Transportation. Access to CTA and Metra train lines is inconvenient from 435 North Park. CTA bus service, via multiple routes, is excellent along Michigan Ave, Illinois St (one-way East-bound) and Grand Ave (one-way West-bound). Many residents of 435 are likely to opt for cabs as their preferred mode of public transit, and cabs are always plentiful in the area.
Zipcar and I-Go car-sharing locations are nearby.
435 North Park has convenient access to and from Lake Shore Drive. Reaching I-90/94 and the rest of the city’s expressway grid can often be time-consuming. Expect near-gridlock conditions when there’s a major event in the neighborhood.
Chicago Water Taxi offers seasonal commuter service between Michigan Avenue and Madison Street, affording 435 residents a pleasant, low-cost way to reach the Loop and the Willis Tower.
The competition
When 435 North Park opens, its most direct competitors are likely to be the new high-rises at 500 Lake Shore Drive and Optima Center. The building will also compete with The Streeter, Streeter Place and other newer nearby apartment towers.
Rentals are typically available in a number of nearby condo buildings, sometimes at sharply lower rents than in the new apartment buildings.
You’ll find additional tips and options at YoChicago’s Guide to renting in Streeterville and our at-a-glance list of Near North apartments.
435 North Park in the news
More recent items are listed first.
Will 435 North Park kill some river views? The coolest construction site in the city Tisch high on new Chicago Loews Trading firm exec buys prime Streeterville site
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