Proposal:

40 W Oak

40 W Oak

(Left) Original rendering, measuring 503 feet in height. (Right) Revised rendering measuring 465 feet 8 inches

Project Details: At-A-Glance

46-74 W. Oak St. / 1000-1006 N. Dearborn St. / 1001-1007 N. Clark St.

Project Address:

Nahla Capital

Developer:

GCNA, RNRA

Neighborhood Group:

C2-5

Current Zoning:

DX-10

Proposed Zoning:

Yes

Planned Dev.?

465 feet

Proposed Height:

31

Proposed Storeys:

up to 75

Unit Count:

Condominium

Unit Type:

0. Paying $1,906,720 into to ARO Fund

Affordable Units:

110 Residential, 50 for Warren Barr

Car Parking:

Bike Room on-site

Bike Parking:

No

Transit-Oriented Dev.?

Commercial Space:

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.

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.

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.

PROJECT TIMELINE

THIS IS WHERE THE MEETING DATES WILL EVENTUALLY GO

PROJECT NARRATIVE

Zoning Approved, December 2020

Current Status: