Waldorf-Astoria Hotel and Residence Tower
| Company type | Proposed development |
|---|---|
| Industry | Real estate, Hospitality |
| Founder | The Prime Group |
| Headquarters | Chicago , United States |
Area served | Chicago, Illinois, United States |
Key people | Reschke (Prime Group) |
| Products | Hotel, Residential condominiums |
| Owner | The Prime Group |
| Parent | Hilton Hotels Corporation (hotel management brand) |
Waldorf-Astoria Hotel and Residence Tower was a proposed skyscraper in Chicago with an estimated development cost of $610 million, designed to combine hotel and condominium spaces. The project, spearheaded by The Prime Group, was planned to rise near the Chicago River within the Streeterville area of Chicago’s Near North Side. The Fordham Company, known for its involvement in the discontinued Chicago Spire project, was also a key developer.
Standing at 107 stories, this tower would have ranked as Chicago’s third tallest building, following only the Willis Tower and the Trump International Hotel and Tower. Globally, it would have been among the tallest structures, with just 25 buildings exceeding its height.
By early 2012, the original plan was revised to favor approval of a smaller, mixed-use development on the same location.
Plans
The hotel component was intended to be operated under The Waldorf-Astoria Collection, a brand within the Hilton Hotels Corporation portfolio, reflecting Hilton’s cautious expansion strategy for its prestigious Manhattan-named brand. Additional Waldorf-Astoria properties were either planned or underway in locations such as Beverly Hills, California, Orlando, Florida, and Montreal, Quebec. However, this management deal remained informal.
The initial design featured a 325-room hotel alongside 300 upscale condominiums. The 107-floor structure was conceptualized with a traditional square base that narrowed into a sharp, scalpel-like apex, designed to complement yet not replicate the aesthetic of the Chicago Spire. Construction was anticipated to commence in 2009 with an expected duration of three years. Residential units were priced around $800 per square foot, which was lower than the Spire’s pricing at $1,200 per square foot. Its architectural approach aligned with Chicago’s preference for slender skyscrapers that maintain sightlines.
The building layout allocated floors 1 through 31 to a St. Regis Hotel featuring 325 rooms; floors 32 through 100 were designated for 300 high-end apartments, including six duplex penthouses spanning floors 92 to 100. The top floor, number 101, was planned as a club lounge and dining venue.
Reschke’s Prime Group also holds development interests in other Chicago properties such as 10 E. Delaware Place and the Roanoke Building.