$80 million renovation of
850 N. Lake Shore Dr. to be luxury senior housing
By Blair Kamin
Tribune architecture critic
4:52 PM CST, December 3, 2007
A deal has been reached to renovate the former Lake Shore Athletic Club
building, which was threatened with demolition earlier this year, as luxury
senior housing, Ald. Brendan Reilly (42nd) said Monday.
Northwestern University, the building's owner, and the Integrated Development
Group have a deal "on the table," Reilly said, and it is expected to
be concluded by year-end.
The deal calls for an $80 million renovation of the building, located at 850 N.
Lake Shore Drive. Reilly said it would save the building's exterior, key public
areas of its interior and create 139 luxury senior residential units, including
11 assisted living units.
"For me, this could be a real win-win," he said. "It will save
an historic building from demolition. It will provide much-needed senior
housing and put this property back on the tax rolls."
Reilly did not identity the purchase price.
In July, Reilly announced that he opposed demolition of the structure, built in
1924 to the design of architect Jarvis Hunt.
Northwestern used the former club as a dormitory until 2005. It has been vacant
since then.
Historic preservationists have urged the administration of Mayor Richard Daley
to confer official landmark status on the 19-story building, which they prize
for its Beaux-Arts limestone and brick facade and such interior features as a
swimming pool adorned by colorful murals of golfers, runners, high-jumpers and
other athletes in the heat of competition.
bkamin@tribune.com
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