J. Paul Beitler has dropped a plan to build a 23-story office tower in the Loop, boosting a competing proposal for a high-rise John Buck wants to build next door.
With one fewer competitor, Mr. Buck is pushing ahead with his development at 151 N. Franklin St. after raising $145 million in equity for the 36-story building, one of several downtown office projects on the drawing boards. But he still needs city approval and an anchor tenant before he can break ground on the 825,000-square-foot tower.
Read more in Crain’s Chicago Business.
