Waldorf-Astoria Hotel and Residence Tower
Encyclopedia
Waldorf-Astoria Hotel and Residence Tower Chicago
, is a canceled hotel and condominium
skyscraper
that would have been 1265 feet (385.6 m) tall. The Prime Group was in charge of the project which was purposed at a cost of $
610 million. The building would have been located one block from the Chicago River
, and north of the Sheraton Chicago in the Streeterville
neighborhood of the Near North Side
community area
of Chicago. The building's developers, the Fordham Company
, were the initial developers of the now cancelled Chicago Spire.
The building would have been the third tallest building in Chicago since only the Willis Tower and Trump International Hotel and Tower
are taller than 1200 feet (366 m). It would have been among the tallest buildings in the world, since fewer than 15 buildings in the world currently exceed 1200 feet (366 m).
brand, as part of a larger strategy of limited expansion of its legendary Manhattan name. Within this plan, other Waldorf-Astorias are planned or under construction in Beverly Hills, California
, Orlando, Florida
and Montreal, Quebec . This management agreement is currently a verbal commitment.
The plans included a 325-room hotel and 300 luxury condominiums. The building, which would have been 107 stories, was designed to salute the Chicago Spire, but not imitate it. It had a traditional square base and taper to a scalpel shaped top. The plan was to aim for a three year construction period starting in 2009 with sales targeted at $800/square foot instead of the $1200 range that the Spire had targeted. The building was designed to adhere to current trend in Chicago architecture that taller thin buildings are favored to shorter buildings providing the same square footage because the slender buildings block fewer views.
The Chicago Plan Commission
endorsed the plans for the building on June 19, 2008. It still faces several hurdles including approval by the full city council and finding suitable financial backing. There are also plans for a nearby 48-story rental building on the same 2.2 acre (8,903 m²) block. The building was planned to be shown to the Streeterville Organization of Active Residents, the Streeterville
area's leading civic group during the first week of October.
Reschke's Prime Group is developing several other properties in Chicago including 10 E. Delaware Place and the Roanoke building.
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
, is a canceled hotel and condominium
Condominium
A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights...
skyscraper
Skyscraper
A skyscraper is a tall, continuously habitable building of many stories, often designed for office and commercial use. There is no official definition or height above which a building may be classified as a skyscraper...
that would have been 1265 feet (385.6 m) tall. The Prime Group was in charge of the project which was purposed at a cost of $
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
610 million. The building would have been located one block from the Chicago River
Chicago River
The Chicago River is a system of rivers and canals with a combined length of that runs through the city of the same name, including its center . Though not especially long, the river is notable for being the reason why Chicago became an important location, as the link between the Great Lakes and...
, and north of the Sheraton Chicago in the Streeterville
Streeterville
Streeterville is a neighborhood in the Near North Side community area of Chicago, Illinois, United States, north of the Chicago River in Cook County...
neighborhood of the Near North Side
Near North Side, Chicago
The Near North Side is one of 77 well-defined community areas of Chicago, Illinois, United States. It is located north and east of the Chicago River, just north of the central business district . To its east is Lake Michigan and its northern boundary is the 19th-century city limit of Chicago,...
community area
Community areas of Chicago
Community areas in Chicago refers to the work of the Social Science Research Committee at University of Chicago which has unofficially divided the City of Chicago into 77 community areas. These areas are well-defined and static...
of Chicago. The building's developers, the Fordham Company
Fordham Company
The Fordham Company is a real estate development company founded in 1988 and based out of Chicago, Illinois. The company's chairman is Christopher T. Carley....
, were the initial developers of the now cancelled Chicago Spire.
The building would have been the third tallest building in Chicago since only the Willis Tower and Trump International Hotel and Tower
Trump International Hotel and Tower (Chicago)
The Trump International Hotel and Tower, also known as Trump Tower Chicago and locally as the Trump Tower, is a skyscraper condo-hotel in downtown Chicago, Illinois. The building, named after real estate developer Donald Trump, was designed by architect Adrian Smith of Skidmore, Owings and Merrill...
are taller than 1200 feet (366 m). It would have been among the tallest buildings in the world, since fewer than 15 buildings in the world currently exceed 1200 feet (366 m).
Plans
Had it been completed, the proposed hotel portion of the building would have been managed by The Waldorf=Astoria Collection, a Hilton Hotels CorporationHilton Hotels Corporation
Hilton Worldwide is a global hospitality company. It is owned by the Blackstone Group, a private equity firm. As of July 2011 Hilton brands encompass 3,750 hotels with over 600,000 rooms in 84 countries...
brand, as part of a larger strategy of limited expansion of its legendary Manhattan name. Within this plan, other Waldorf-Astorias are planned or under construction in Beverly Hills, California
Beverly Hills, California
Beverly Hills is an affluent city located in Los Angeles County, California, United States. With a population of 34,109 at the 2010 census, up from 33,784 as of the 2000 census, it is home to numerous Hollywood celebrities. Beverly Hills and the neighboring city of West Hollywood are together...
, Orlando, Florida
Orlando, Florida
Orlando is a city in the central region of the U.S. state of Florida. It is the county seat of Orange County, and the center of the Greater Orlando metropolitan area. According to the 2010 US Census, the city had a population of 238,300, making Orlando the 79th largest city in the United States...
and Montreal, Quebec . This management agreement is currently a verbal commitment.
The plans included a 325-room hotel and 300 luxury condominiums. The building, which would have been 107 stories, was designed to salute the Chicago Spire, but not imitate it. It had a traditional square base and taper to a scalpel shaped top. The plan was to aim for a three year construction period starting in 2009 with sales targeted at $800/square foot instead of the $1200 range that the Spire had targeted. The building was designed to adhere to current trend in Chicago architecture that taller thin buildings are favored to shorter buildings providing the same square footage because the slender buildings block fewer views.
The Chicago Plan Commission
Chicago Plan Commission
The Chicago Plan Commission is a commission implemented to promote the Plan of Chicago, often called the Burnham Plan. After official presentation of the Plan to the city on July 6, 1909, the City Council of Chicago authorized Mayor Fred A. Busse to appoint the members of the Chicago Plan Commission...
endorsed the plans for the building on June 19, 2008. It still faces several hurdles including approval by the full city council and finding suitable financial backing. There are also plans for a nearby 48-story rental building on the same 2.2 acre (8,903 m²) block. The building was planned to be shown to the Streeterville Organization of Active Residents, the Streeterville
Streeterville
Streeterville is a neighborhood in the Near North Side community area of Chicago, Illinois, United States, north of the Chicago River in Cook County...
area's leading civic group during the first week of October.
Reschke's Prime Group is developing several other properties in Chicago including 10 E. Delaware Place and the Roanoke building.