Nahla Capital, out of New York City, has proposed to construct a luxury condo building at 40 West Oak, which is the current location of the Warren Barr parking garage.
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The tower, which would be located on the northwest corner of Oak and Dearborn, would replace the current parking garage on-site. Residential and garage access for the proposal enters from Dearborn, exiting on to Oak.

Alderman Hopkins and the River North Residents Association (RNRA) hosted a community meeting on October 1, 2019, at Moody Bible Institute. The original proposal featured a 502 foot, 34-story condominium building with up to 90 luxury condominium units and 160 parking units, 50 of which would be designated for use by Warren Barr Gold Coast.
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On January 13, 2020, Nahla Capital presented a revised proposal, which cut the size of the building to 465 feet, and cut the number of stories to 31. A net reduction of units was also discussed, down to 75, while increasing the total square footage of each existing unit. Parking counts remain unchanged, with ingress to the garage off Dearborn Ave., and egress onto Oak St. only. There will be no public parking available in the parking garage.