“The data speaks for itself,” a spokesperson for The Peshtigo told a Crain’s reporter who was hunting for a statement in January on the proposed Streeterville high-rise’s future. The Crain’s item included some figures obtained from Appraisal Research Counselors, showing that just 17 percent of the 358-unit building had been sold by the third quarter of 2008.
A more telling sign perhaps is that The Peshtigo has been removed from the list of active developments on developer Related Midwest’s Web site and none of the condos are currently listed on the MLS. The 57-story, Ralph Johnson-designed high-rise was planned for 515 N Peshtigo Ct in Streeterville, but sales were slow in 2008, and the building never got off the ground.
It seems likely that the developer is tossing The Peshtigo in the dumpster, as Joe Zekas artfully depicted in the PhotoShopped image at the top of this post. If the project is indeed dead, The Peshtigo’s slogan — “Living never looked so good” — couldn’t be more appropriate.