The congregation of the Fourth Presbyterian Church has voted in favor of plans to build a 64-story condo tower behind the church at Michigan and Chestnut. The vote was overwhelming, with 611 church members for the plan and 173 against.
The church would be paid $25 million for air rights to the property by the chosen developers: Glenview-based Edward R. James Partners, LLC and Rosemont-based Opus North Corp. The 240-unit luxury condo development is valued at $240 million.
Proceeds would be used to endow some church programs and to build a new community center on Chicago Avenue. The church would take about 63,000 square feet in the new building for various uses including administrative offices and childcare facilities.
The Streeterville Organization of Active Residents and various neighbors have voiced concerns about the plan in an area already dense with new construction. The height of the proposed building, which is too tall for some, is likely to be a point of contention.