The key developer, Gerald Fogelson, is responsible for building the massive Central Station residential development on the site of the former IC passenger terminal at the southern end of the city’s Grant Park. Central Station closed in 1972 and the building known for its clocktower was demolished in 1974.
Fogelson has said previously that he acquired the air rights to build over the tracks more than 20 years ago.
A Metra spokesman said Friday that the commuter rail agency has been briefed on the plans by the developers, but would not comment further. The developers have reportedly also briefed Chicago officials on the plans, which won’t be officially unveiled until a public meeting on March 13.
The latest proposal is a multibillion-dollar plan to deck over the Metra Electric tracks west of Soldier Field — home of the National Football League’s Chicago Bears — and south of the Central Station development to build a mix of residential, office and retail space, according to a report in Crain’s Chicago Business.
Previous development plans were proposed as recently as 2008 but never realized. This time, Fogelson is partnering with a Wisconsin developer. Bob Dunn, who is president of Milwaukee-based Hammes, played a key role in building Ford Field in Detroit and rebuilding Lambeau Field in Green Bay, Wis.
Fogelson previously planned to develop 23 acres of the property, telling the Chicago Tribune at the time: “It’s the only vacant piece of land on Lake Shore Drive and it’s ugly. Our plan is to cover this entire area.”
The recession and credit crunch quashed that proposal, however.
