Excerpts from chicagocurbed.com: Rendering of high-rise with fire station. City of Chicago The City of Chicago recently unveiled a bold proposal to replace the historic Engine Co. 42 fire station in River North with a modern facility that will be topped by a mixed-use high-rise. This plan follows a similar model used in other neighborhoods, where public infrastructure is combined with private development to create sustainable and vibrant communities. Under the proposal, the current fire station at 55 W. Illinois Street — which has served the area since 1968 — will be demolished and replaced with a $20.2 million firehouse funded entirely by local developer Friedman Properties. The new site will then be developed into a tower offering up to 614,000 square feet of office and residential space, designed by DLR Group, a well-known Chicago-based architecture firm. A Memorandum of Understanding (MOU) between the city and Friedman shows a preliminary rendering of the glassy high-rise, though the final design is still being refined. The city is also considering alternative bids from other developers for a 30-day period after the terms of the deal are posted online. Friedman would pay the city $5 million to acquire the firehouse site and an adjacent alley. The land is currently zoned DX-7 Downtown Mixed-Use, and the developer could potentially contribute up to $10 million to the Neighborhood Opportunity Bonus program, which funds community projects in underinvested areas of the city. Although no official approvals have been granted yet, the project must go through standard processes such as public meetings and review by the Chicago Plan Commission and City Council. The city expects to generate about $4.4 million annually in additional real estate taxes from this development. A conceptual (and poorly scanned) rendering from the MOU drafted by the city and Friedman. City of Chicago/DLR Group Thanks Austin & Dennis Excerpts from chicagobusiness.com: Developer Albert Friedman has reached an agreement with city officials to build a new firehouse for Engine Co. 42 in River North, complete with a large office and mixed-use high-rise above it. The project, which will be located immediately west of the existing station at 55 W. Illinois Street, is expected to bring a state-of-the-art facility to the neighborhood while also creating a significant business opportunity for Friedman Properties. This unique public-private partnership allows the city to get a modern firehouse without cost, while giving Friedman access to one of the most desirable development sites in the area. As one of the largest landlords in River North, Friedman has previously led major projects in the neighborhood, including a three-hotel complex just north of the fire station. The new tower, designed by DLR Group, will add to the growing skyline of high-rises in River North, where demand for both residential and office space remains strong. While apartment development is booming, office space is also in high demand, and Friedman is positioned to take advantage of that market. Friedman Properties stated that they have a vested interest in developing the site in a way that benefits the Chicago Fire Department, neighboring properties, and the city as a whole. They expressed excitement about working with all involved parties to move the project forward. The city and Friedman have signed a memorandum of understanding, and the city will consider competing proposals for the site for a 30-day period. Under the deal, Friedman will cover the cost of building the new $20.2 million firehouse and pay the city $5 million for the existing site. He has also agreed to contribute $10 million to the Neighborhood Opportunity Bonus program, which supports development in underserved areas. “This project has the potential to be a unique partnership that could enhance a prime development location while providing a new home for Chicago’s bravest,†said Alderman Brendan Reilly, representing the 42nd Ward. In addition to the firehouse and high-rise, Friedman has a strong presence in River North, with multiple properties including hotels, offices, and commercial buildings. He also has plans for additional developments, showing his continued investment in the neighborhood. Thanks Scott Rubber Compression Molding Machine,Rubber Vacuum Compression Molding Machine,Vulcanization Compression Molding Machine,Rubber Vulcanizing Press Machine,Energy Conservation Molding Machine Dongguan Pont Neuf United Composites Technology Co. Ltd. , https://www.xinqiaolian.com