Land on Lake Shore Drive between downtown and Lincoln Park is nearly nonexistent. Draper & Kramer has big plans for the last available lot between the Chicago Spire site and Diversey Harbor.
The firm announced plans to build a 60-unit apartment building at 65 E Banks, which is currently a parking lot. Downtown's multifamily pipeline is packed, but this is a premium location on Lake Shore Drive and would give prospective renters immediate access to the lakefront and Michigan Avenue's shopping.
Draper & Kramer has owned the lot for 23 years, according to DNAInfo. Another potential Gold Coast site at 1139 N State is also on the market as a redevelopment opp. [DNA]
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