Members of the Fourth Presbyterian Church are scheduled to vote June 13 on a plan to build a 64-story condo highrise behind the historic church at Michigan and Chestnut.
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 child care.
The Streeterville Organization of Active Residents and some church members have voiced concerns about the plan. The height of the proposed building, which is too tall for some, is likely to be a point of contention.