"We think the project has virtually no opposition," Smith tells GlobeSt.com.
Although it is eight stories higher than earlier plans, the proposed tower was moved further west on the site, which preserves some of the views now enjoyed by owners of neighboring condominium units.
Canadian newspaper publisher Hollinger International, Inc. owns the 2.26-acre site on the Chicago River, where the Sun-Times occupies a seven-story, 430,000-sf building considered to be one of the prime redevelopment sites in the city. The Cook County Assessor's office places a $19.24-million market value on the property, placing 87% of that value in the land.
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