On the May plan commission agenda:
A proposed Residential-Business-Institutional Planned Development, submitted by North Union LLC and The Moody Bible Institute of Chicago, for the properties generally located at 142-172 West Chicago Avenue, 800-934 North LaSalle Drive, 132-314 West Walton Street, 801-921 and 828-950 North Wells Street, 201-315 and 230-314 West Oak Street, 859-1037 and 930-1036 North Franklin Street, 210-232 West Chestnut Street, and 200-210 West Institute Place. The applicants are proposing to rezone the site from Institutional Planned Development #477 and C1-3 (Neighborhood Commercial District) to DX-5 (Downtown Mixed-Use District) and then to a Residential-Business-Institutional Planned Development to permit (i) the continued institutional use of the Moody Bible Institute and the future development up to 1,372 dwelling units on the Moody site (Subareas A and D) and (ii) the construction of a multi-building planned development consisting of 2,656 dwelling units and approximately 1 parking space per 2 residential units. A 0.57 FAR (Floor Area Ratio) bonus will be taken and the overall FAR of the planned development will be 5.57.
PD Application
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