If Thanksgiving sucked for Nicholas “Condo King” Gouletas of American Invsco, the Easter Bunny is making up for it. After years of knock-down drag-out fights with the city and local residents, American Invsco will finally get its super-tower at 3600 Lake Shore Drive – but it will be 20 stories shorter than the company had hoped. Still, it’s an Easter miracle.The developer has been praying for years that this deal will come off, but all looked lost when the city downzoned the site on Invsco a few years back. With a nasty court battle looming, the city and the developer have reached a settlement where Invsco gets to build a 212-unit, 28-story tower, and 16 townhouses on vacant land at 3600 North Lake Shore Drive.
Few details of the development are available, except that the condos will be one to two bedrooms, and the townhouses will have two to three bedrooms. All of the high-rise units will have angled balconies to offer views of the lake.
Yo wonders whether Mother Cabrini is smiling down on American Invsco over at the old Columbus Hospital site where Gouletas is engaged in a holy war with Lincoln Parkers over plans to build a luxury high-rise.
Wow, 280 stories. This will be the tallest building in the world by far!
The posting has since been amended to read 28 stories, the correct building height.
> it’s an Easter miracle.
What is the “Good Friday” or “Easter” news here?
> the city and the developer have reached a settlement
When was the settlement reached?
Shiller testified in favor of this project in front of the Plan Commission 3/16/06.
Did you write this in response to a news event or to a press release from Invsco?
YoChicago Today
“Blog-ified press releases from developers in Chicago’s neighborhoods.”
Hugh,
The settlement was just reached last week. It’s news to many of our readers, if not to you.
Of course some of our content comes from news releases. Do you know any media that don’t use news releases?
News releses are a small percentage of what we post, and everyone can see that and place your comment in its proper context.
Whaever. We’re happy to have you here. And if we can’t keep up with your knowledge, how about joining us in some way as a more regular contributor?
> The settlement was just reached last week.
Invsco distributed a press release last week. The settlement was reached months ago. Invsco’s zoning change was introduced into the City Council 12/14/05. The Tribune reported the settlement 12/9/06.
Why don’t you make yourselves useful and try going beyond the press release and actually adding value by reporting something we don’t already know, like how many of those 212 apartments and 16 townhouses Shiller managed to get set aside as affordable (and to whom) for her decade of hardball?