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193 Columbus Dr
Chicago, IL 60601
Land For Sale
·
0.75 AC
Investment Highlights
- Prime development site in Chicago’s Lakeshore East, a premier master-planned community.
- No affordable housing requirement, unlike the citywide 20% mandate.
- Immediate access to Riverwalk, Lakefront Trail, Millennium Park, and the Loop.
- Grandfathered PD 70 zoning allows 702,256 SF of buildable area with zero bonus FAR cost.
- Approved plans for 574 residential units, 239 hotel keys, co-working, and retail space.
- Rare opportunity in a high-density, high-demand submarket with limited remaining sites.
Executive Summary
The property benefits from highly favorable zoning under PD 70, which allows for up to 702,256 square feet of floor area with zero bonus FAR cost and no affordable housing requirement—an exceptional advantage in today’s regulatory environment. Approved plans are in place for a world-class mixed-use tower featuring 574 residential units, 239 hotel keys, 37,192 square feet of co-working space, and 10,170 square feet of retail. Parking requirements are minimal, with only 33 new spaces needed and an easement granting access to 329 existing spaces in the Aqua Parking Garage.
Lakeshore East is anchored by a six-acre park and offers direct access to the Riverwalk and Lakefront Trail, creating a vibrant, amenity-rich environment. The neighborhood is home to a dense, affluent renter base and is surrounded by luxury residential towers and trophy office assets, ensuring sustained demand for high-quality multifamily and hospitality product. With limited remaining development parcels in this high-barrier-to-entry submarket, 193 North Columbus Drive represents an unparalleled opportunity to deliver a best-in-class mixed-use project in one of Chicago’s most dynamic urban settings.
Property Facts
1 Lot Available
Lot
| Lot Size | 0.75 AC |
| Lot Size | 0.75 AC |
Spanning 32,837 square feet, the site is strategically positioned at the convergence of the Chicago River, Lake Michigan, and the Central Business District, offering unmatched connectivity and visibility.
Description
Spanning 32,837 square feet, the site is strategically positioned at the convergence of the Chicago River, Lake Michigan, and the Central Business District, offering unmatched connectivity and visibility. The property benefits from highly favorable zoning under PD 70, which allows for up to 702,256 square feet of floor area with zero bonus FAR cost and no affordable housing requirement—an exceptional advantage in today’s regulatory environment. Approved plans are in place for a world-class mixed-use tower featuring 574 residential units, 239 hotel keys, 37,192 square feet of co-working space, and 10,170 square feet of retail. Parking requirements are minimal, with only 33 new spaces needed and an easement granting access to 329 existing spaces in the Aqua Parking Garage. Lakeshore East is anchored by a six-acre park and offers direct access to the Riverwalk and Lakefront Trail, creating a vibrant, amenity-rich environment. The neighborhood is home to a dense, affluent renter base and is surrounded by luxury residential towers and trophy office assets, ensuring sustained demand for high-quality multifamily and hospitality product.
