CHICAGO-The developer of the 42-story Optima Center high-rise apartment building here is planning to build an even taller building next door.
A group led by Optima Inc. of Glencoe is looking to build a $250-million apartment building that could reach 60-stories in height, according to Optima President David Hovey. The partnership acquired a one-acre parcel at 220 E. Illinois St. last month for $29 million. The property is adjacent to its 325-unit Optima Center project it is currently developing as well.
The second tower building would contain 400 apartments, 60,000-square feet of single-tenant retail space and a 200-room hotel, according to Crain's Chicago Business.
DeBartolo Development LLC of Tampa, FL and Canadian pension fund OPSEU Pension Trust are equity partners in the new tower project. See story in Crain's Chicago Business.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
