A trio of Thompson Coburn Chicago attorneys helped their client gain the Chicago Zoning Administrator’s final approval earlier this month on plans for a 23-story office building, which once complete in 2015, will be the first new downtown office tower since 2010.
The proposed $140 million development at 200 W. Randolph St. is designed for prospective tenants planning to relocate to Chicago’s Central Loop with the newest technology and efficiencies in office space development at competitive rental rates.
Real estate associate Jessica Schramm handled land use and zoning for the project, partner Jack Parrino handled the transactional real estate work and partner James Oakley coordinated the project for their client, Beitler Real Estate Services LLC.
After extensive discussion between the developer, architect and office of the 42nd Ward alderman (who controls the Loop zoning), the project was able to move forward without having to go through the normal planned development process.
“The swift and successful zoning approval was absolutely astonishing,” J. Paul Beitler said. “Our legal team’s success to gain zoning approval and avoid having to go through the planned development process will cut a year off the approval process and dramatically reduce costs associated with a planned development.”
The transit-orientated development will be built next to the CTA line. Additionally, a trademark of every Beitler development is the commissioning of a permanent art piece by a world-renowned artist. For this building, Beitler will commission famed glass artist Dale Chihuly to create a permanent art installation along the exterior of the West Randolph façade.
