Randolph Tower, a Chicago Landmark, Undergoes a Green Redevelopment
As a building designated by the City of Chicago as a Landmark, listed on the state of Illinois Register of Historic Places and the National Register of Historic Places; Randolph Tower is a widely recognized addition to the Chicago architecture community. With that level of notoriety, the current redevelopment efforts led by Village Green have had to be handled very carefully and financed by a number of participants, including: The City of Chicago, Citi Community Capital, US Bank, Bank of America, Freddie Mac, The Illinois Housing Development Authority, Key Bank and the AFL-CIO Housing Investment Trust.
The gothic revival building clad in Terra-Cotta and located at a premier intersection, the corner of Wells and Randolph, only hints at its lengthy history. Built in 1929, Randolph Tower was previously known as Steuben Club Building and maintained office, retail and social space. It is only fitting that the redevelopment for the 45-story high-rise will include a mixed-use plan encompassing 313 rental units, retail space and office square footage.
LM Consultants enjoys the opportunity to work with the team of partners on this project as properties of this history, size and age bring a unique set of challenges. Adding that the property will follow the National Green Building Standard set forth by NAHB only adds to the excitement around this project.
To read more about the Randolph Tower redevelopment efforts please see the Multi-Housing News article written by Contributing Editor Dees Stribling, available here: http://bit.ly/jiU86n