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CHICAGO-Donald Trump is expected to tour the under-construction Trump International Hotel & Tower site Thursday, May 24 and give a press conference with a progress report at 11 a.m. He also recently hired CB Richard Ellis to market the 90,000 sf of retail property at 401 N. Wabash Ave.

The units are currently 80% pre-sold with 78% of the hotel units pre-sold and 80% of the residential units pre-sold. Tere Proctor, director of sales, says 350,000 sf of office space that was originally in the plans was eliminated and other space was reconfigured to allow for additional hotel and condominium units. The hotel portion of the tower is expected to open in December.

CB Richard Ellis announced this week that it was chosen as the exclusive retail leasing agent for 75,000 sf of the 100,000 sf of retail space in charge of leasing 75,000 sf of the retail space on the ground level and Riverwalk levels of the building, according to a released statement from CB Richard Ellis. The retail space is expected to open the first quarter of 2009. Todd Caruso, Sharon Kahan, Todd Siegel and Daniel Jacobson, all with CB Richard Ellis, will be the leasing agents. Representatives from CB Richard Ellis said they could not comment further.

The 2.7 million-sf tower will also have 339 hotel condominium units, 486 residential condominium units, a restaurant, ballrooms, meeting rooms and a spa and health club. The estimated value of the project is $850 million, says Proctor. At 1,362 feet tall, “It is the largest residential building in North America,” she says, though Shelbourne’s planned Chicago Spire a few blocks north promises to be 2,000 sf.

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