Library Tower (Chicago)

Library Tower Chicago is located on 520 S. State Street, Chicago, Illinois, United States, which is the block directly south of the main branch of the Chicago Public Library in the Loop community area.[1]

Currently (4/2009) the building has 184 Units. 52 units have been sold and closed. Another 36 are under contract. Apparently, the building was mostly sold unit the economy forced investors to pull out of the building, leaving it largely unsold. Units have been on sale since 2005, with closing first occurring in 2008. There has been substantial price drops from being on the market (1 bedrooms listed for 300k+ now listing for 226K with parking included.) [2]

Originally proposed at 32 floors rising 370 feet, the building has since been scaled back due to a neighborhood petition of 1,100 signatories. Above grade parking within the building has been scaled back from 8 to 4 floors in light of the reduction in residential units. The number of units has been scaled back from 227 to 182 mostly two bedroom condominiums. The facade design was changed before construction from a poured concrete exposed system to a masonry cladding with recessed balconies. The Architect is Solomon, Cordwell, Buenz and Associates.[3]