New Gold Coast condo tower moving forward?

Crain’s Chicago Real Estate Daily is reporting that bid documents have been posted for a proposed 26-story condo tower at the northeast corner of State and Elm in the Gold Coast.

If the project is able to get past zoning hurdles it will be the first new condo high-rise in downtown Chicago in nearly half a dozen years.

The most recent condo project in the immediate area, Walton on the Park, stalled out on sales and was largely repurposed as a rental building. If the condo market is poised to rebound, Walton on the Park units might come to market as condos well in advance of any new construction that’s yet to begin.

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