848 W Randolph – Nobu Hotel

On Monday, June 13, Rolando Acosta from Acosta Ezgur, LLC along with Spiro Tsaparas and Mark Hunt from 854 Randolph, LLC presented the updated proposal for 848 W Randolph (Nobu). 848 W Randolph is in the 27th Ward.

The location is currently a vacant lot. The new facility will include an approximately 11,000 sq/ft restaurant and 119 hotel rooms, plus a roof deck restaurant and pool.

The building is proposed as 142 ft high (10 stories + penthouse), with brick face and steel framed windows.

There are 35 off-site valet spots 3 blocks away. The Randolph side of the building will be loading zone.

The current zoning is a Planned Development (PD) with underlying C1-5. The proposal is for DX-5 with 3.1 FAR Bonus. The proposal will be submitted as a PD. They plan to purchase the 3.1 FAR bonus as part of the Neighborhood Opportunity Bonus.

NOWL Development Committee Feedback

This proposal plans to use the Neighborhood Opportunity Bonus to purchase the additional 3.1 FAR. The feedback from residents is that additional height is not supported in this area of the West Loop. The Neighborhood Opportunity Bonus is also problematic since there has not been insight into how the money is collected, audited, and prioritized for use. Spiro did state that he was willing to purchase additional FAR prior to the Neighborhood Opportunity Bonus program, but the City did not have a mechanism in place to support the funds. He also stated he is willing to meet with NOWL representatives to discuss donations to the schools, parks and other amenities that are desperately needed in the West Loop to support the additional restaurants, hotels and residential developments that have been proposed and approved in the past 3 years.

Parking is a concern, since the proposal is for 35 valet spots 3 blocks from the location. This would be a 6 block round trip for each car that is valeted. Spiro did state that they plan to find parking closer to the property, but could not commit to where that would be located at this time. NOWL recommends that the restaurant licenses be withheld until valet parking can be secured within a 2 block radius of the Randolph & Peoria intersection at a minimum.

Next Steps

NOWL is developing a letter for the 27th Ward alderman noting our desire to have a community meeting prior to this proposal going to zoning.

By: NOWL Development Committee 27th Ward Representative, Bob Aiken

Date: Monday, June 20, 2016

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