Chicago is a 24-hour city because of its many downtown residents. Now comes a 24-hour office building to add to the mix.
Dearborn Plaza, a 17-story office building with an unusual residential component, is under construction. Located at the northeast corner of Dearborn and Kinzie Streets, the Alter Group’s 382,000-square-foot structure will include a 215-room corporate hotel on floors two through six.
Milepost Industries will operate the hotel, which will be marketed for extended stays by mid- to high-level executives. It will be a corporate contract facility and not open to the public.
Richard Gatto, executive vice president of the Lincolnwood-based Alter Group, said the building is a response to a growing downtown office demand. It offers 260,000 square feet of Class A space on floors 7 through 17. Completion is expected next June. The hotel is scheduled to open July 1.
The hotel will have an entrance and elevators separate from the offices. It will not include a restaurant, though many places to eat are in the surrounding River North neighborhood, including Harry Caray’s restaurant across the street.
“Although we’re still developing the look of the hotel rooms, they will be finished with executives in mind,” said Gatto.
Dearborn Plaza’s most distinctive architectural element is a rounded corner of glass facing southwest toward the Loop. The entry features a two-story lobby.
The office floor plates are 24,000 square feet. Copper and fiber optic services will be available to support tenants’ telecommunications and data systems needs.
Underground parking will provide for 40 cars, with the entrance on Kinzie Street.
