Received this letter in the mail the other day.
In accordance with the requirements for an amendment to the Chicago Zoning Ordinance, please be informed that on or about September 3, 2008, the undersigned will file an application for a change in zoning from DC-12 Downtown Core District to a DX-12 Downtown Mixed-Use District and then to a Residential-Business Planned Development on behalf of JRC 108 Jefferson LLC, whose address is 401 North Michigan Avenue, Suite 1300, Chicago, Illinois 60611 (the “Applicant”), for the property located at 108 North Jefferson Street, Chicago, Illinois (the “Property”). The Property is owned by the Applicant and JRC Jefferson DAS, LLC, JRC Jefferson JJO, LLC and JRC Jefferson EMP, LLC. …
The Property is currently improved with a non-accessory surface-level parking lot. The Applicant proposes to construct a 41-story building on the Property containing ground floor business uses, five floors of office space, accessory off-street parking spaces and 311 dwelling units, which must be processed as a Planned Development pursuant to the Chicago Zoning Ordinance.
[108 North Jefferson, Chicago, IL 60661]
Oh boy, more people are moving in, Ma. Where does all the cash come from to convert every single parking lot into a 40 story high rise? I thought real estate development was in a down-turn? There is the Catalyst, right across the street from this newly proposed building, R+D 659, the Emerald, and probably others. An amazing boom happening in my zip code.