Chicago to Host Meeting on New High-Rise Tower
Alderman Bennett Lawson will hold a public meeting on November 4 regarding a 28-story residential tower.
Updated on Oct. 28, 2026 in Openings & Closings
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Alderman Bennett Lawson will host a virtual community meeting on November 4, 2026, to discuss a proposed 28-story high-rise project at Diversey Parkway and Sheridan Road. The development plans to replace the former Stone Medical Center site with 345 residential units and extensive retail space.
Why it matters
The project represents a significant transformation of the former hospital site while aiming to support the preservation of the nearby Elks National Veterans Memorial. Its inclusion of affordable housing units provides a specific living opportunity for households earning between $50,000 and $70,000 annually.
The proposed 330-foot tower will feature 345 residential units, 10,000 square feet of retail space, and a 50,000-square-foot fitness center. Developers secured the site for $17.25 million, which also includes 275 vehicle and 345 bicycle parking spaces.
The players
Bennett Lawson
Bennett Lawson is a Chicago Alderman who serves as a representative for the local community and oversees public hearings regarding zoning and development proposals.
The details
The building design incorporates a three-tier sculpted tower composed of three staggered volumes atop a retail podium. Plans also detail the widening of an existing alley to facilitate two-way traffic flow near the site.
Timeline
1951: The original building opened as a union headquarters.
1979: The building was sold to the hospital after the union moved.
Late 2025: Developers purchased the Stone Medical Center property.
April 2026: The final tenants moved out of the Stone Medical Center.
November 4, 2026: The virtual community meeting will take place.
Market Landscape
This development follows the guidelines of the Chicago Affordable Requirements Ordinance, balancing high-end luxury amenities with mandatory middle-income housing. It positions the site as a mixed-use anchor in East Lakeview, mirroring trends of redeveloping aging medical campuses into dense residential hubs.
Residents can expect ongoing construction activity as demolition of the former medical center proceeds over a 12-week period. The eventual completion of the tower will introduce new retail options and fitness facilities to the Diversey Parkway and Sheridan Road area.
The takeaway
The project underscores the ongoing repurposing of underutilized urban commercial property into dense, mixed-use residential towers. Interested residents should monitor the meeting to see how the proposed alley modifications might alter local traffic patterns.
Further reading
Learn more about local development updates in our Chicago Openings & Closings section.
Source note: This article includes information reported by CBS News.
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Do you generally support or oppose new high-rise residential projects being built in your community?
