Elevators alone cost $22.14 million for $900 million BMO Tower project

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You can get a sense of the scale of the $900 million BMO Tower, part of the Union Station redevelopment, when you review building permit filings for the past week.

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The four largest permits recorded by the City of Chicago for the week, totalling $22.14 million, in the city’s permits portal were conveyancing device permits issued to Kone Elevator for the structure at 310 S. Canal St.

General contractor Clark Construction Group was issued a permit in the spring valued at $321 million for the “new construction of a 46 story office building to include two levels of below-grade parking and ground floor as per plans.” Published reports have put the project’s overall value at $900 million, and developers obtained a $476 million construction loan last winter for the 1.5 million sq. ft. skyscraper next to Union Station.

John O’Donnell, CEO of Riverside Investment and Development, said in a paid Chicago Tribune post last winter that BMO Harris Bank, Bank of America and Citizens Bank funded the loan.d

Riverside is developing the tower with another Chicago-based developer, Convexity Properties, which is the real estate investment arm of trader Don Wilson’s DRW Holdings, the published report said.

Subtrades listed in the March building permit include: Electrical – Titan Electric LLC,; masonry contractor – Goebel Forming, Inc. and Jimmy’Z Masonry Corp.; plumber/plumbing – Great Lakes Plumbing & Heating; and refrigeration and ventilation – Hill Mechanical.

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