Hines JV cleared for new riverfront restaurant complex

The restaurant group Lettuce Entertain You Enterprises will lease 38K sf in River North tower

May.May 01, 2018 01:00 PM

Bill & Giuliana Rancic and the building

A Hines joint venture will begin work on a sprawling restaurant complex at the base of a 35-story tower along the north side of the Chicago River.

The city granted a construction permit to Hines in its partnership with Diversified Real Estate Capital and American Realty Advisors at 312 North Clark Street.

Hines last month announced a lease by Chicago-based restaurant group Lettuce Entertain You Enterprises for 38,000 square feet at the base of the 900,000-square-foot tower.

It will include a bi-level upscale restaurant called RPM on the Water, a private events space and a casual concept that’s yet to be named.

It is slated to open in summer 2019.

The restaurant is the third in the RPM concept, started by Lettuce Entertain You with Bill and Giuliana Rancic. The TV personalities recently listed their Gold Coast Victorian townhome for $6.8 million.

The restaurant is part of a complete renovation of the building, which includes a Goettsch Partners-designed lobby, an expanded fitness center and tenant lounge, according to Hines. The work cited in the permit is expected to cost an estimated $23 million.

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